A Web Video Divorce: “Lonelygirl” Creators Eqal Break Up With Spark Capital

Eqal, the Web video start-up best known for the “lonelygirl15″ series, has handed back the money it raised from its primary investor, Spark Capital. This sounds alarming, but you can think of it as an amicable divorce: Spark gets back all of its bubble-era investment and Eqal gets to keep going, with fresh money from new and existing investors.

lonelygirl15 Is Dead–Long Live EQAL!?!

Last Friday, what BoomTown would call the Web’s first bona fide hit ended, as the lonelygirl15 online series finale took place with 12 video segments uploaded over 12 hours. Now, apparently, it is time to meet EQAL, a “social entertainment company” that is still essentially the two guys–Greg Goodfried and Miles Beckett–who dreamed up LG15 and also the KateModern Web series. Except, rather than operating out of their homes on a wing and a prayer, they are now armed with $5 million in funding.