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BREAKING NEWS & VIEWS
Joost Restructures: Goes White Label  suppliers, YouTube and hulu. In a blog post from CEO Mike Volpe at the site yesterday, the company announced it was leaving the consumer space and focusing on selling its technology as a white label video platform for media companies. “Unfortunately, as a part of this change, we will say goodbye to many of our colleagues and friends.” Volpe says on the site. In fact, Volpe himself is stepping down as CEO to remain as chairman of the board as current svp of engineering Matt Zalesko takes over. Joost did not specify the number of layoffs involved in this move, but it seems to have pared itself down to a “core team” in New York and London that will engineer and sell Joost as a white label video platform. “It’s been increasingly challenging to operate as an independent, ad-supported online video platform,” Volpe admits, but he thinks there is a demand for the technology within the branded entertainment sites of major media. In the battle of the video portals, Joost was up against YouTube, Break.com, Dailymotion.com and, of course, hulu, as all of these major venues tried to partner up with TV, film and other online video partners. Weeks ago, Joost announced partnerships with Vogue.TV and Marvel Entertainment, and it has hosted video for Wired Science and other magazine properties online. Joost began several years ago with considerable fanfare as a highly polished aggregator of TV content on the Web that incorporated social media and user interaction. It went through several technical and business model iterations, ran obtuse TV commercials long before the technology was ready, and in the end was upstaged handily by the NBC/News Corp. joint venture hulu. If you have breaking news to share please contact Steve Smith at ssmith@accessintel.com COMMENTS
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