Tuesday, June 30, 2009

Joost bows to YouTube, gives up consumer video | Digital Media - CNET News

A big day for Internet video news

Joost, the third major creation by Niklas Zennström and Janus Friis, the duo that also founded Kazaa and Skype, announced Tuesday that it will dump its consumer-video service and will now focus on building "white label" video platforms for "cable and satellite providers, broadcasters and video aggregators."

The move marks the end of Joost as a YouTube and Hulu competitor and also closes the book on the attempt to resuscitate the company overseen by former Cisco executive Mike Volpi. Joost announced that Volpi has stepped aside as CEO but will remain chairman.

Joost bows to YouTube, gives up consumer video | Digital Media - CNET News

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