Wetpaint was an Internet company and a wholly owned subsidiary of Function(X). Founded in 2005, Wetpaint both published the website Wetpaint Entertainment, focused on entertainment news, and developed a proprietary technology platform, the Social Distribution System, that was used to provide analytics for its own website as well as other online publishers. Wetpaint began as a wiki farm, hosting wikis using its own proprietary software, before moving into hosting of professional content in 2010. Wetpaint's wiki-hosting component was spun off completely in 2013 after being purchased by Wikifoundry.[1] Wikifoundry ceased operations in June 2021, decommissioning the original Wetpaint wiki-farm after 15 years[2]
Wetpaint
Company type
Subsidiary
Industry
Internet technology (2006–2018)
Founded
October 2005
Headquarters
New York City, U.S.
Products
Technology platforms for the media industry; formerly wiki hosting
Wetpaint was originally called Wikisphere, and begun as a wiki farm, hosting wikis using proprietary software. It was co-founded in October 2005 by Ben Elowitz, who had previously co-founded the online jewelry retailer Blue Nile Inc. In December 2005, the company and site were renamed to Wetpaint.[3] In October 2005, the company received its initial A round of venture capital funding of US$5.25 million from Trinity Ventures and Frazier Technology Ventures.[4] Wetpaint closed a US$9.5 million 'B' round of funding in January 2007, adding Accel Partners to the list of investors.[5] Wetpaint closed a Series C round of venture capital funding of US$25 million in May 2008. Investors included Accel Partners, Trinity Ventures, and Frazier Technology Ventures.
Wetpaint was named by Time Magazine as one of the 50 Best Websites of 2007.[6]
In July 2009, Wetpaint laid off 15 of their 56 employees.[8] An additional 9 employees, including co-founders Kevin Flaherty and Alex Berg, were laid off in December.[9] The company also decided to refocus the website on professionally created content. Both steps were taken as a result of declining online ad revenue.[9]
During late 2009, Wetpaint re-launched its main homepage, at wetpaint.com, as the Wetpaint Entertainment platform, a set of new online TV fan destination sites, geared toward the female 18-34 demographic.[10] The wiki farm was renamed "Wikis by Wetpaint", and was moved to the domain wetpaintcentral.com.
In December 2010, the company announced the Wetpaint Social Distribution System.[11]
In December 2012, Wetpaint was acquired by Viggle,[12] an entertainment rewards platform, which was shortly renamed to its former name, Function(X).
Updates to wetpaint.com stopped in 2018, leaving the site stagnant until it finally went defunct in mid-2020.
Referencesedit
^Wet Paint Wiki - WikiFoundry Central, 2013-09-01, retrieved 2017-10-25
wetpaint, paint, redirects, here, silent, film, paint, 1926, film, disney, film, paint, 1946, film, internet, company, wholly, owned, subsidiary, function, founded, 2005, both, published, website, entertainment, focused, entertainment, news, developed, proprie. Wet Paint redirects here For the silent film see Wet Paint 1926 film For the Disney film see Wet Paint 1946 film Wetpaint was an Internet company and a wholly owned subsidiary of Function X Founded in 2005 Wetpaint both published the website Wetpaint Entertainment focused on entertainment news and developed a proprietary technology platform the Social Distribution System that was used to provide analytics for its own website as well as other online publishers Wetpaint began as a wiki farm hosting wikis using its own proprietary software before moving into hosting of professional content in 2010 Wetpaint s wiki hosting component was spun off completely in 2013 after being purchased by Wikifoundry 1 Wikifoundry ceased operations in June 2021 decommissioning the original Wetpaint wiki farm after 15 years 2 WetpaintCompany typeSubsidiaryIndustryInternet technology 2006 2018 FoundedOctober 2005HeadquartersNew York City U S ProductsTechnology platforms for the media industry formerly wiki hostingRevenueVenture capital fundedOwnerFunction X Number of employees65Websitehttp www wetpaint com defunct as of mid 2020 History editWetpaint was originally called Wikisphere and begun as a wiki farm hosting wikis using proprietary software It was co founded in October 2005 by Ben Elowitz who had previously co founded the online jewelry retailer Blue Nile Inc In December 2005 the company and site were renamed to Wetpaint 3 In October 2005 the company received its initial A round of venture capital funding of US 5 25 million from Trinity Ventures and Frazier Technology Ventures 4 Wetpaint closed a US 9 5 million B round of funding in January 2007 adding Accel Partners to the list of investors 5 Wetpaint closed a Series C round of venture capital funding of US 25 million in May 2008 Investors included Accel Partners Trinity Ventures and Frazier Technology Ventures Wetpaint was named by Time Magazine as one of the 50 Best Websites of 2007 6 In March 2008 Wetpaint added social networking features 7 In July 2009 Wetpaint laid off 15 of their 56 employees 8 An additional 9 employees including co founders Kevin Flaherty and Alex Berg were laid off in December 9 The company also decided to refocus the website on professionally created content Both steps were taken as a result of declining online ad revenue 9 During late 2009 Wetpaint re launched its main homepage at wetpaint com as the Wetpaint Entertainment platform a set of new online TV fan destination sites geared toward the female 18 34 demographic 10 The wiki farm was renamed Wikis by Wetpaint and was moved to the domain wetpaintcentral com In December 2010 the company announced the Wetpaint Social Distribution System 11 In December 2012 Wetpaint was acquired by Viggle 12 an entertainment rewards platform which was shortly renamed to its former name Function X Updates to wetpaint com stopped in 2018 leaving the site stagnant until it finally went defunct in mid 2020 References edit Wet Paint Wiki WikiFoundry Central 2013 09 01 retrieved 2017 10 25 WikiFoundry www wikifoundry com Retrieved 2021 07 06 Startup Wikisphere changes its name to Wetpaint Seattle Post Intelligencer 2005 12 01 Cook John 2005 11 02 Startup Wikisphere raises 5 25 million in 1st round Seattle Post Intelligencer Wiki Providers Score Funding Red Herring 2007 02 22 Wetpaint com 50 Best Websites 2007 Time Magazine 2007 07 09 Archived from the original on July 12 2007 Wetpaint Goes Social press release Wetpaint 2008 03 10 Retrieved 2008 05 11 Seattle Layoff Update Targeted Genetics Wetpaint Google and Others Cut Staff xconomy 2009 08 26 a b Exclusive Wetpaint cuts staff changes focus to publishing John Cook TechFlash 2009 12 04 Wetpaint Launches Online TV Fan Destination With Coverage Of This Fall s Most Anticipated TV Programs Wetpaint Entertainment Rapidly Becomes a Leading Online Entertainment News Source Due to Wetpaint s Proprietary Social Distribution System Viggle Acquires Wetpaint Press Release 2013 12 16 External links editOfficial website Archived Retrieved from https en wikipedia org w index php title Wetpaint amp oldid 1192603903, wikipedia, wiki, book, books, library,
