Turning Out The Lights: SplashCast

SplashCast Corp., which lets people watch television shows within social networking sites, has been unable to raise new funding and has decided to shut down.

In March 2008, the Portland, Ore.-based company announced $4 million in Series A financing led by Australian media and advertising veteran Mark Bayliss with participation from angel group Emergent Growth Fund.

“We demonstrated that premium content applications in Facebook and MySpace can be monetized effectively with high-end display advertising,” Mike Berkley, SplashCast founder and CEO wrote in a blog post announcing the decision. “But that final chapter in the company’s history came too late, given our inability to convince the VC community to bet on us.”

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