The Wall Street Journal is reporting that Revver has been acquired by LiveUniverse. Revver, one of the video platforms pioneering the revenue sharing among the creator, Revver itself and the sharer, which is on the basis of 40-20-40 has no longer operated the company under the funds of venture capitalists, but would rather operated under the flagship of LiveUniverse. It is reported that Revver sold to LiveUniverse for less than $5 million, but expected to operate independently as part of LiveUniverse, a Los-Angeles startup with about 25 employees and being run by MySpace founder Brad Greenspan.

This move means no other video sites that managed to gain ground on YouTube, claimed to an over 30% market share in online video, though Revver was once appeared as a serious contender to be the next YouTube, as reported by comScore.

via [wsj]