'Virtual venue' startup had raised $2.3 million in seed-round funding
Yahoo has taken a small step to bulk up its video portfolio with the acquisition of Evntlive, an early-stage startup that had created a “virtual venue” for live Internet concerts.
Terms of the deal were not disclosed. Evntlive announced Friday that it had been acquired by Yahoo; with the deal, Evntlive said its service would be discontinued.
“When we started Evntlive in early 2012, we set out to change the way that fans engage with live music online by creating an interactive, virtual venue,” the company said in a statement. Evntlive was led by CEO Judy Estrin, former CTO of Cisco Systems.
Evntlive launched a beta service in April 2013 and has live-streamed hundreds of performances from artists and festivals worldwide including Bon Jovi, Stone Temple Pilots, Slash and Wu-Tang Clan.
Yahoo confirmed the acquisition. “We see a lot of potential for how we can expand upon our shared vision for an entertaining content-consumption experience” with Evntlive, a Yahoo rep said in an emailed statement.
Evntlive earlier this year raised $2.3 million in seed funding from investors including manager Troy Carter, whose clients include Lady Gaga; Google’s Vint Cerf; Mayfield Fund partner Yogen Dalal; and Ellen Levy, managing director of Silicon Valley Connect.
Separately, last week Yahoo also acquired Ptch, an Instagram-like mobile video-sharing startup backed by DreamWorks Animation. Ptch, in a blog post announcing the deal, said its app will be shut down Jan. 2, 2014.