It turns out MeeVee CEO Michael Raneri had a lot more on his mind than he shared with us during our interview a few weeks back.
The online video startup has hired Pagemill Partners to advise it on the possibility of a sale after being approached by multiple strategic buyers, Raneri told me, after I asked him about a published report on NewTeeVee.com.
The Silicon Valley firm, which started out as an online
video guide, has been expanding its offerings to include white-label video
platforms and search. At the same time, it cut staff over the summer.
Here's Raneri's response, in full except to edit out some non-pertinent parts:
"We had no interest in selling but were approached by a couple of strategics... I think larger companies are looking to make acquisitions. After some thought, we sought counsel to help think through what would be best for the company to leverage and maximize the value of our platform. We are exploring, but it would not be accurate to say we are selling ourselves. If it is the right buyer, and the right home for the company, we would consider it. That is what Pagemill Partners is helping us navigate. I really can't say more than that at this point."
MeeVee has raised a total of $16 million to date, Raneri told me last month.
We'll be following this story closely, as any transaction will help set the market price for online video Web sites.
In the meantime, check out the second half of our interview, when he shared some lessons he's learned, including how to deal with the peaks and valleys of being an entrepreneur.
