Pulse2 Technology and Social Media News » Matt Zelesko http://pulse2.com Sun, 27 May 2012 19:13:16 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Joost Is Further Fading Into Irrelevance http://pulse2.com/2009/06/30/joost-is-further-fading-into-irrelevance/ http://pulse2.com/2009/06/30/joost-is-further-fading-into-irrelevance/#comments Tue, 30 Jun 2009 21:25:42 +0000 Amit Chowdhry http://pulse2.com/?p=16978 Continue reading →]]>
Joost was started by Niklas Zennström and Janus Friis back in October 2006.  The company raised about $45 million in funding shortly after starting up.  Investors included Sequoia Capital, Index Ventures, Viacom, CBS and Li Ka-shing.  Joost killed off their desktop application and became purely a web service in September 2008.

Joost announced that they have replaced former CEO Mike Volpi.  Joost SVP of Engineering Matt Zelesko will be replacing Volpi.  However Volpi will remain as Chairman of the board.

As a result of Joost’s lack of growth compared to YouTube, Hulu, and other video services Joost has decided to focus on providing video platforms for bigger companies.  There will also be major layoffs.  Joost employs about 100 people in New York and London.

[via Reuters]

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