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Veoh's Assets Acquired By Content-Sharing Startup Qlipso

Qlipso, a "social content-sharing company," has acquired substantially all of the assets of bankrupt Internet-video startup Veoh.

Terms of the transaction were not disclosed. Veoh, whose investors included Time Warner Inc., former Walt Disney CEO Michael Eisner's Tornante investment firm and former Viacom CEO Tom Freston's Firefly3, shut down operations and filed for Chapter 7 bankruptcy protection in February.

Los Angeles-based Qlipso was founded last year and is backed by Jerusalem Venture Partners, an early-stage Israeli investment firm specializing in digital and interactive entertainment and content sites. The company has fewer than 20 employees.

Qlipso says it lets users share Flash-based media content they find on the Web and interact with friends "in a secure and friendly virtual environment."