The dotcom ambitions of the low-budget mavericks at Denmark's Zentropa have finally hit the rocks.
Internet outfit Tvropa filed for insolvency over Christmas after Zentropa and other investors had lost hundreds of thousands of dollars on the company, which launched in 2000 with plans to webcast 3-4 minute programmes about movies, entertainment and technology.
Venture companies Vesterhavet A/S and Catpen injected some $850,000 into the company in April last year but, according to MD Christian Tange, its closure was inevitable due to a number of failed initiatives over the summer.
The founder of Zentropa's electronic division Niels Aalbaek Jensen (the brother of Zentropa founder Peter Aalbaek Jensen) held 16%, Vesterhavet and Catpen 30% and Zentropa 50%.
Tvropa would need another $565,000 to be able to continue operations, but Peter Aalbaek Jensen refused to gamble more on that account.
Estimates say that Zentropa will have lost some $706,000-$850,000 on their digital adventure. Tvropa had some 20 empoyees.