It had previously received $17 million in venture capital. WebVisible had been flying high in 2010, having raised $20 million in venture capital from Focus Ventures, Adam Street Partners, RedPoint Ventures and Sutter Hill Ventures. As a result they have forced the company to shut down….This happened quite suddenly, and the timing could not be more unfortunate.” Our bank foreclosed on its loan which means they are taking over the company’s assets and collecting all remaining payments. Even with all our efforts to recover throughout this past year, we found ourselves in a position in which the debt load of the company was simply too much to overcome. I know this is a shock and has come abruptly. “It is with deep sadness and regret that I must inform you that today, Decemis the last day of operation for WebVisible.

TechCrunch cites a note that WebVisible CEO Ron Burr sent to employees that the company ran out of cash and Silicon Valley Bank was shutting the company down. Company officials have not yet responded to a Register phone call and e-mail message seeking comment. WebVisible, an online local advertising company that until recently was headquartered in Irvine, has closed, reports .Ĭompany founder Kirsten Mangers who left the company in October, 2010, verified that WebVisible had closed but had no details.

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