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Zediva Liquidation Complete

The history books are officially closed on Zediva, the rental service that took on Hollywood with a new approach and was slaughtered for it. The company has completed its liquidation process and won’t be paying any remaining service charges to its customers.

Zediva attempted to get around Hollywood’s usual content restrictions by streaming DVDs to customers from its data centers.
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The studios and their legal teams pounced, and Zediva announced it was shutting down last October.

Zediva sent out an email to its former customers this weekend explaining that its liquidation was complete and that money still owed to the company’s customers will not be paid out because the costs of processing that payment would exceed the amount of money remaining. From Zediva’s email:

“The process of liquidating the company’s few remaining assets has now been completed. The cash proceeds, net of administration expenses, have been divided equally among all of the company’s creditors (each of which was unsecured), resulting in a recovery of approximately The cash proceeds, net of administration expenses, have been divided equally among all of the company’s creditors (each of which was unsecured), resulting in a recovery of approximately $0..
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018 per dollar owed to each creditor.”

Did you have any remaining credits with Zediva, Insiders? Will another quirky, startup rental company try to take on Hollywood after what’s happened to Zediva?

[via GigaOm]

One Response to “Zediva Liquidation Complete”

  1. Visitor [Join Now]
    James [visitor]

    I wasn’t signed up with Zediva, although I am quite certain that many more sites will take their place.

    They’ll just be the kind that Hollywood gets *no* money from, instead of some.