Veoh Networks, thr video-sharing portal backed by high-profile investors, has confirmed it is closing and will liquidate under bankruptcy protection. “The distraction of the legal battles, and the challenges of the broader macro-economic climate have led to our Chapter 7 bankruptcy,” Dmitry Shapiro, the company’s founder and chief executive, wrote on his personal site. “This chapter of our lives has come to an end.”

San Diego-based Veoh, founded in 2004, was one of the early video-sharing start-ups and attracted funding from a host of investors including the venture-capital operations of Goldman Sachs., Time Warner and Intel.

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