4/4/01 (WhatTheyThink) According to sources familiar with the company’s condition, Paperhub.com has become “insolvent” and will discontinue operations. Paperhub was a Web-based hub that supported content, community, collaboration, and commerce in the paper industry on a shared operating platform. Paperhub's seed investors included the now-defunct Downers Grove-based seed-stage investor Digital Disruptors, which closed in August 2000. The company was also backed by Appleton Papers and Batterson Venture Partners. Last August, PaperHub.com CEO Tom Gildae said the company was about to close on a $12 million venture round. Dan McIntosh, Chairman of Paperhub.com and past VP of Appleton Papers was unavailable for comment but sources said the company “has not given up on the technology it developed,” and will still try to partner with others in the market.