The firm's chairman, Brett O'Brien, told socalTECH that, contrary to other reports, the firm is not shutting down, but that they are in the process of selling the company. "We O'Brien is one of the co-founders of Xdrive, which was sold to AOL in 2005. Los Angeles-based Pluggedin Media , which operates a web site focused on streaming of high quality, music videos in HD and broadcast quality, is looking for a buyer. We have built a great team and a supersite for music fans, but the company now needs to find a partner that already has established a large traffic base."

The firm's chairman, Brett O'Brien, told socalTECH that, contrary to other reports, the firm is not shutting down, but that they are in the process of selling the company. "We O'Brien is one of the co-founders of Xdrive, which was sold to AOL in 2005. Los Angeles-based Pluggedin Media , which operates a web site focused on streaming of high quality, music videos in HD and broadcast quality, is looking for a buyer. We have built a great team and a supersite for music fans, but the company now needs to find a partner that already has established a large traffic base."

billion in 554 deals, invested -- the lowest quarter since 2005. Locally, One things worth pointing out is that more dollars in Q4, nationally, as well in LA, went into second and later stage deals, than early stage deals, " said Mike Schoenfeld, part of Ernst & Young's Global Venture Capital Advisory Group, commenting on the results in an interview with socalTECH. Southern California's venture capital numbers for Q4 slipped, as did numbers nationally, according to numbers released over the weekend by Dow Jones VentureSource. According to the report, Southern California's venture