Revver Goes to LiveUniverse for $5 million

There must be more to Revver than meets the eye. Several weeks ago, the going price for the distressed video-sharing site was rumored to be in the $500,000-$1.5 million range. NewTeeVee reported last night that LiveUniverse, which already runs several Web sites, paid nearly $5 million to acquire Revver.

LiveUniverse was reported to be in talks to acquire Revver at the discounted price, but that deal apparently fell through.

Revver burst onto the video-sharing scene with a plan to take on YouTube by paying users a share of the ad revenue generated from the videos they posted. Revver videos can be shared online and on mobile phones.