To quote one of my favorite authors, “So it goes.” It grieves me to report that—according to TechCrunch—Portland-based Vidoop is officially dead. For many of us in the Portland startup and OpenID scene, Vidoop had the promise of doing something big—and it was simply filled with great people.
But sometimes, even the best and brightest hit a rough patch.
I don’t have a lot of details on this at the moment, but the story doesn’t likely come as a shock to anyone who has been following Vidoop’s recent layoff announcements.
TechCrunch has a letter from CEO Joel Norvell and highlights that “employees are getting computers in lieu of wages”:
Bad news for Portland-based Open-ID startup Vidoop (as well as Vidoop partners like AOL, MySpace and Flock): it’s apparently out of business. Earlier this month the company announced layoffs, but based on an email string that was forwarded to us… From CEO Joel Norvell to Vidoop insiders, where he says that the company has no funds to pay wages or other liabilities, and that employees are being offered computers in lieu of wages.
More on the story as it develops.