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.
Posted by Owen Thomas 11:44 AM 0 Comments comment | Add a Comment

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.