HD electronics maker VizionWare short circuits
VizionWare Inc., a producer of cables and adapters, has shuttered — and fast. The announcement went out today and the company’s website has already disappeared. Attributed to disappointing sales in Blu-ray connectors, its close leaves investors who contributed $21 million since its 2002 founding out in the cold, including Novus Ventures (with a 27 percent stake), Access Venture Partners, DFJ Mercury Venture Partners, Individuals’ Venture Fund and InterWest Partners.
The Austin, Tex.-based company started to unravel earlier this year when it failed to raise even $4 million in third round funding this June. It laid off some of its staff, which was already pretty slim, and began hunting desperately for a buyer. Its product revenue so far this year was a grim $318,000, which was only a slight dip from 2007.
Even though Blu-ray revenue has been flat, not miserable, the HD industry has taken a toll on VCs. Earlier this year, HD chip-maker Vativ Technologies Inc. sold out to Entropic Communications Inc. for just $5.9 million after raising $37.7 from investors, reports VentureWire.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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