Veoh, a video-sharing website that raised around $70 million funding and was at one point a quick-growing rival to YouTube, has filed for Chapter 7 bankruptcy, according to a source familiar with the matter.
Investors in Veoh included Goldman Sachs, Time Warner and Spark Capital, who were all eager to get into Veoh and a host of other video-sharing startups that raised massive amounts of funding after YouTube took off and was sold to Google for $1.6 billion in October 2006.
CEO Dmitry Shapiro offered Mashable a “no comment” when reached this afternoon.
