Viddy Sells Itself Short — for Less Than $20 Million

Viddy, once a leading video-based social network, has been acquired after a year of struggling to compete with Twitter's Vine and (later) Instagram video.

Fullscreen, a YouTube network for brands and video creators, announced Wednesday that it had acquired Supernova — the new name Viddy had given itself in November — to bolster its mobile product offerings. Terms of the deal were not disclosed, but a source familiar with the situation told Mashable it was between $10 million and $20 million.

Ten million plus is better than nothing, but it's a poor return for a company that had previously raised more than $35 million in funding. Viddy was once reported to be valued at more than $300 million Read more...