PodTech, the once-promising creator of tech-related videos and podcasts, was sold for less than a half-million dollars to ViewPartner, a telecommunications firm, VentureBeat reports.
The Palo Alto company was founded in 2005 by John Furrier, back when building a business on podcasts seemed like a good idea. It raised $7.5 million in funding from US Venture Partners and Venrock, and employed geek-celeb Robert Scoble.
Last year it started hemorrhaging employees, including Furrier who left in August. Yesterday, Valleywag reported the company had stopped paying those that remain and was "pretty much entirely in hock to its bankers." LA-based ViewPartner says PodTech "will be the first to deliver HD quality broadcast on the Internet within the next year."
See Also: Robert Scoble On The Web, Without The Video
