VC-Backed Bust: Veoh Networks
Last summer, I was chatting with a venture capitalist during a tech conference, when Veoh Networks founder Dmitry Shapiro walked by. "Dead company walking," the VC whsipered. Seems he was onto something, as Peter Kafka is reporting that Veoh laid off its workforce yesterday and is expected to file for Chapter 7 bankruptcy protection. This comes less than a year after the San Diego-based company cut around one-third of its workforce and installed founder shapiro as CEO, but also less than a year after Veoh beat back a copyright infringement lawsuit brought by Universal Music Company.
11 February 2010•2 mins read
