Put another $20 million in the jukebox startup, baby
Ecast, a provider of broadband jukeboxes for bars, lounges, and other out-of-home locations, has just raised $20 million. You'd think that would be good news for the company, but we're suspicious. For starters, the company is seven years old. If it's going to be a success, it ought to be making money, not taking it in. What happened to the $31.5 million Ecast raised in 2000 or the $14 million Ecast raised four years ago? Well, some of that's easy to answer: Ecast used most of the 2002 round to buy RioPort, a pioneering online music store which got steamrollered by iTunes and shut down in 2003.
We don't mean to pick on Ecast in particular. Perhaps a recast Ecast will use the new money wisely to expand its jukebox business. But this could also well be an example of venture capitalists throwing good money after bad. 
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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer
LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer.
Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer
The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc.
Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.
FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
© 2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices .
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