Troubled peer-to-peer technology startup SkyRider has shut down, a reliable source tells me. I’ve reached out to the company for comment but haven’t heard back.
Mountain View, Calif-based SkyRider took a round of bridge financing last winter, as we reported then; NewTeeVee subsequently unearthed a management shakeup.
Notably, SkyRider was a portfolio company of top venture firm Sequoia — the one that last week told its portfolio companies to cut costs as much as possible in order to survive the economic downturn. So, Sequoia is also apparently busy culling losses from its portfolio. Other investors in the company included Velocity Interactive Group (when that firm was still ComVentures) and Charles River Ventures.
SkyRider started as as anti-piracy company CRight, then switched to serving ads in P2P search results by posing as users with highly relevant files to share. One anonymous investor told us that the technology behind Skyrider is “incredible” and “totally wicked” — lets hope that has not entirely gone to waste.