Online video portal Joost has announced that it will be changing its focus in the wake of challenging economic times, and will restructure itself as a provider of ‘white label online video platforms for media companies, including cable and satellite providers, broadcasters and video aggregators.’ Joost CEO Mike Volpi will be stepping down from the post, but will still act as chairman of the board. Matt Zelesko, currently SVP of engineering for the company, will step into the CEO role. In a statement released today (June 30), Joost announced its new focus will be to ‘provide the market with a cost-effective, end-to-end solution for media companies to publish video under their own brands.’ As a result, the company is closing its development office in Leiden and will be the running operations with ‘a core team’ in New York and London. No number has been given for the layoffs as of yet. Founded in 2007 by the team behind Skype and Kazaa, Joost had established content partnerships with broadcasters and media companies from around the world, announcing as recently as June 10 new content deals with companies including Atlas Media Corp. and RDF Digital USA.
- Summit ’17