Here's a little deal -- and we mean little -- that we missed from earlier this week. Silicon Valley web video company Kasenna, which raised $90 million since 2000, was acquired by a rival, Ottawa-based Espial Group, for -- wait for it -- $6.5 million. According to Espial, the combined company will have more than 100 customers for its software, which is deployed to 2.4 million IPTV subscribers.
The venture firms burned in the deal? Intel Capital, U.S. Venture Partners, Silicon Graphics, Alloy Ventures, Cypress Ventures and The Entrepreneurs' Fund, among others.
Kasenna is a technology play, unlike the consumer video sites that have been soaking up funding for the past few years, but we have to think that Kasenna's fate awaits many of the well-funded video sites attempting to gain market share against YouTube.
See Also:
VC Dollars Still Pouring Into Startups
Another "Chinese YouTube" Raises Monster Cash
