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images/news/internet.jpgWeb video site Joost is restructuring, abandoning its hopes to be a successful ad-supported Web TV provider. Instead it will sell its video-serving technology to other media companies.
Joost, created by the same developers as Internet telephony application Skype, blamed an economy that has made it "increasingly challenging to operate as an independent, ad-supported online video platform," CEO Mike Volpi wrote Tuesday on a company blog. "In order to position ourselves well for the future, we began investigating additional lines of revenue for Joost," he said.
That investigation has led the company to shift its operations to providing white-label video platforms for companies interested in publishing Web video, including cable and satellite companies. Joost said it can help companies build video portals cheaper, as it is an expensive and difficult proposition.
Volpi implied impending layoffs: "Unfortunately, as a part of this change, we will say good-bye to many of our colleagues and friends."
PC World
Joost, created by the same developers as Internet telephony application Skype, blamed an economy that has made it "increasingly challenging to operate as an independent, ad-supported online video platform," CEO Mike Volpi wrote Tuesday on a company blog. "In order to position ourselves well for the future, we began investigating additional lines of revenue for Joost," he said.
That investigation has led the company to shift its operations to providing white-label video platforms for companies interested in publishing Web video, including cable and satellite companies. Joost said it can help companies build video portals cheaper, as it is an expensive and difficult proposition.
Volpi implied impending layoffs: "Unfortunately, as a part of this change, we will say good-bye to many of our colleagues and friends."
PC World
