Fan Fiction Site Fanlib Closing Down; Disney Deal Nixed?
This story was written by Rafat Ali.
Fanlib, the Los Angeles-based community site dedicated to showcasing fan fiction, has abruptly closed down. In a note on its site, it says the site will shut down on August 4th, but doesn't give any specific reason for the closure. Earlier in June, we reported the company was in the process of being bought by Disney (NYSE: DIS), and not yet sure on the status of that deal. The site launched about a year ago, and had raised about $3 million from H.I.G. Ventures in 2006...one likely scenario could be that the Disney deal fell through, and the company ran out of money. More as we find out
For some more perspective on fan fiction sites, read this: "On the Demise of Fanlib, and Why Fan-run Sites Are More Likely to Succeed"
By Rafat Ali