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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