Puzzling ROO Group Buys Assets of Wurld Media
21 November 2008
ROO describes itself as the net video solutions company concentrated on meeting the specific desires of big co. corporations worldwide and the Net broadcast company of choice for firms looking for effective systems for monetizing online video. The Wurld Media assets, which ROO purchased for almost $4 million, will seemingly provide some P2P streaming capacities. Wurld, in the meantime, was one of many firms trying to get a way to earn money thru P2P platforms, but never convinced buyers to take part. Its largest achievement might have been a deal related in late 2005 to help NBC Universal distribute some of its content ; the statement drew responsible press coverage but it is misleading whatever became of the agreement, if anything. According to its latest balance sheet, it had $6 million of money as of March 31--which, at the First-quarter burn rate, would have lasted roughly a quarter.
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20 November 2008 19:15:13
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