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Joost scraps consumer video service July 1, 2009

Posted by andre in Internet & Communities, Multimedia.
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Joost, the online video service launched by the founders of Skype in 2007, is restructuring its business to provide video technology to other media companies rather than compete as a consumer video site.

As part of the restructuring, it plans to eliminate an unspecified number of employees and focus its operations in New York and London.

Mike Volpi, chief executive of Joost, will step down, but remain as chairman of the board. Mr Volpi left Cisco in early 2007, where he was the head of its routing division and considered an heir apparent to John Chambers, Cisco chief executive.

“In these tough economic times, it’s been increasingly challenging to operate as an independent, ad-supported online video platform,” Mr Volpi said.

[…] Continue reading at FT.com / Companies / Media – Joost scraps consumer video service

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