DivX said Feb. 25 that it plans to shut down its Stage6 video sharing service on Feb. 28.
The San Diego company said it wants to focus on its core technology licensing business and on the distribution of DivX video content on third-party sites.
Stage6 lets users post, share, download and watch videos. It also has a social networking component. It began in 2006.
DivX executive Tom Huntington said in an online post that “the continued operation of Stage6 is a very expensive enterprise that requires an enormous amount of attention and resources that we are not in a position to continue to provide.”
The message drew swarms of responses Feb. 25. “Put in some advertising and please keep it going,” said one.
DivX said it had been exploring strategic options for Stage6 since July, and said it will elaborate on its decision during its fourth-quarter conference call on March 11.
The company trades on the Nasdaq as DIVX. Shares were at $12.43 in morning trading Feb. 25, up 3 percent from the Friday close.
, Brad Graves