Social site Uber shuts down after investors pull out

Posted by Erina Lin on September 30, 2008 at 11:47 PM

Uber.com, a startup blog platform backed by Discovery Communications and Universal Music Group shut down Friday after the investors pulled out, according to CNET.

“We have some bad news. The crisis in the economy has claimed Uber as its latest victim. Our investors have decided to stop supporting Uber and we have closed the doors,” The Los Angeles-based company posted on its Web site.

Co-founded by former Friendster CEO and NBC Entertainment President Scott Sassa, Uber had completed a US$7.6 million series B venture round early this year, including money from the aforementioned investors and venture firm Sterling Stamos, CNET reported.

Uber, with the slogan "it's easy to create better", focused on editorial content centred on highbrow art and media, including a Huffington Post-like "Uber Index." It was hard to define it as blog platform, a social network, or a discussion hub.