Boxee, A Startup That Cuts Cable Cords In The Living Room, Has Been Trying To Get Itself Acquired Or Funded Since February
Steve Kovach, Business Insider
Boxee has been creating software and hardware that helps people stream web video onto other devices and cut cable cords for the past decade.
Now it may be looking to cut the cord on itself.
Boxee has been looking for either an acquirer or a large round of financing since February, AllThingsD's Peter Kafka reports. It hired banking firm Allen & Co to help get a deal done but no luck so far. Boxee initially sought $30 million in additional financing, doubling the amount it has raised to date.
Part of the problem may be Boxee's original positioning. For years it touted itself as a cord cutting solution for the living room, which likely rules out interest from traditional TV service providers. Comcast and Time Warner Cable have similar solutions to Boxee already, as Kafka points out, so they don't need Boxee either.
Boxee last raised $16.5 million a couple years ago. The company is based in Israel and New York.
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