Pulvermedia (including VON events & VON Magazine)

Founded: 1997

Status: Died March 2008.

Cause of Death: Multiple injuries, some self-inflicted

What did it do: Initial rallying point for the VoIP ecosystem.

Website: See below 

The VON events were where VoIP geeks went to network, do deals and play at one of the evening parties hosted by purple-wearing founder Jeff Pulver. And what parties they were, with bands such as the Counting Crows, the Goo Goo Dolls, Heart, Huey Lewis and the News and Liz Phair headlining in venues intimate enough for you to get to the front of the stage and actually see the performers without a $300 ticket. 

<sigh> 

At some point during the past three years, Jeff Pulver's muse shifted from VoIP to social media, online video and Israeli start-up companies. New management came in to operate the pulvermedia empire at the same time vendors started spending less money at the shows. 

Maturity soon set in, and the new management got an investment of $11 million in June 2007 from TICC Capital Group, structured as senior secured notes with warrants. By March 2008, TICC's SEC filing reported that pulvermedia had stopped paying interest on the debt, forcing TICC to write off $10.6 million; TICC managed to claw back about $1 million in cash about a quarter later. 

More dramatically, TICC seized the assets of pulvermedia during Spring VON 2008 and shut the company down, leaving vendors in the lurch and devoted followers gnashing their teeth. How did TICC get the right to do this? Don't pay interest on your warrants, warrants convert over into stock, TICC maybe gets enough stock to control the company. And senior notes put TICC at the front of the line for repayment of any debt. 

Latest word is Virgo Publishing bought the VON trademarks and domain names and is trying to launch a September 2009 event in Miami using the VON name. The new logo has no purple anywhere in sight.

(Full Disclosure: Doug Mohney worked for pulvermedia as a contributior and ultimately editor-in-chief of VON Magazine.)