Interestingly, if you do a little research, key members of the stage6 team (operating under the name ZenGarden) moved on to other things in late Jan/early Feb.
With 19MM uniques, and a management team including ex DivX CEO Jordan Greenhall, they had no problems bringing $$$ to the table! They had a VC lined up with $25MM ready to go
For some reason, the spin-out didn’t work.
So why didn’t it work? Did DivX not get the valuation they wanted? Was there a condition that couldn’t be worked out? What was so important to kill off 19MM members of a community and to tick off a huge number of fans?