Now that Joost has given up the ghost and bailed out of the Web video portal business, who’s next? A good bet: Veoh, one of the best-funded would-be YouTubes. Multiple sources tell me the company is aggressively marketing itself to would-be buyers, and it’s asking for less than the $70 million investors like Michael Eisner have plowed into the company. Meanwhile, rival MetaCafe is looking for a “strategic investor.”
Video site Veoh, one of the biggest players in the “who will be the next YouTube” competition, is restructuring the company, laying off a good chunk of its staff and replacing CEO Steve Mitgang with founder Dmitry Shapiro. Shapiro says the company, which has been primarily focused on playing video and selling ads on its own site, will now be concentrating on a new “Video Compass” player that users will have to download onto their Web browsers in order to use.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »
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