Strapped For Cash, Web TV Startup Mobuzz Starts Panhandling

Mobuzz, one of the more popular online shows to come out of Europe, has run out of money. But instead of bowing out, the site is turning to its users and asking for a €5 donation (or the equivalent in your local currency). The goal? 120,000 Euros by next week, which Mobuzz says should be enough to sustain the site until it can get more funding. If it doesn’t make the cut, the site will be shut down and any donations will be returned.

It’s always nice to see a community come together to support something it enjoys, but Mobuzz and its fans should keep in mind that the site ran out of money for a reason – it’s not like someone came in and snatched it away. So while the guys in the video below can plead about saving the free daily shows that the site has been producing for years, if Mobuzz does survive it will likely see radical changes. Any new investors will want to see the site turn a profit, be it through paid content, increased advertising, or fewer shows.

Also, what’s the deal with the one week notice? It looks like Mobuzz either had a financial deal in the works that fell though at the last minute, or they’re setting a short time limit to give their drive a false sense of urgency (I’m guessing the latter).
Update: Some people who are close to the Mobuzz team say this isn’t an arbitrary time limit and that they’re actually within a week of closing shop. That may be true, but why not start the fund raising effort a few weeks earlier?