Podango – Bankruptcy Looming?
Without coming out and saying it in plain English, Podango has basically said get your stuff off our servers ’cause we are going under… When the President of an Internet startup says “we are encouraging you to begin taking all necessary steps to secure your data or begin moving to another hosting provider” you can read the writing on the wall. Looks like bankruptcy. Two years ago, people railed against me for my “Podcasting Is Dead” presentation. I’m not sure how many more examples I need to point to until folks realize – I was dead on. You are in the media business, forget “podcasting” – that is so 2005.
I think this also says something about the “network of shows” model Podango and several other startups were counting on. Grouping together unrelated shows in order to sell advertising across all of them simply doesn’t work. Aside from the fact that none of these companies has a dedicated sales team (something every successful content company has from day one), advertisers simply don’t see value in using a shotgun method to reach their target market. Besides, wasn’t reaching a super-targeted audience exactly what new media promised in the first place? Slapping an old business model on new media was destined to fail.
Podango was started by some great folks, primarily Lee and Doug, both stand up guys. In fact I sold technology to them a few years back. No one takes joy in situations like this, it is a tough spot. They are smart guys and will weather the storm. Look for them on the backside. I expect they’ll be back.
So who’s next? Anyone heard from Mevio (Podshow) lately?
As reported on 
