Thursday, February 11, 2010

Veoh's Shapiro Confirms Bankruptcy Filing

Dmitry Shapiro, in a post on his personal web site, confirmed the Chapter 7 bankruptcy filing of San Diego- and Los Angeles-based Veoh Networks Thursday afternoon. In the post, Shapiro said in his post that "The distraction of the legal battles, and the challenges of the broader macro-economic climate" led to the bankruptcy filing. Veoh had raised over $70M in funding.