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Revver’s asking price is between $300,000 and $500,000, as well as the assumption of the company’s debt, which is in the $1 million range, said two sources with knowledge of the negotiations. The sum is tiny considering that the Los Angeles-based Revver raised $12.7 million in venture funding.
The deal never materialized. A source with knowledge of the negotiations said talks stalled when Greenspan began “trying to drive down the price” and “that Revver’s debt was an issue.”