Mystery still surrounds the demise of Filmloop. Filmloop raised $7 million from ComVentures in May last year. Nine months later with $3 million still in the bank, investors decided to shut it down. The full story is still a mystery. Mike, at
Techcrunch had done a good job piecing up the whole story but a couple of venture capitalist have responded to his story. Their comments and suggests that this was a case of simple failure. Comventures are reported to be not doing well. An example is Firefly Mobile where ComVentures Roland Van Der Meer was on board, had raised $26 million in late 2005. He promises exciting news but three months later Firefly is restarted and Comventures has pulled out. We don’t want to unfairly criticize individual investors, and don’t have all the facts yet. Moreover, they may be facing their own pressure from their own investors, which may be the case at ComVentures.source
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