Joost goes into liquidation in the UK
Founders already working on music streaming service Rdio
15 October 2009 11:42 GMT / By Amy-Mae Elliott
The UK division of online video service Joost has gone into liquidation.
Founded by the creators of Skype and Kazaa, Joost, although attracting big media investors with funding said to top $45 million, failed to sign agreements with major content providers.
The UK arm of the Netherlands-based company is said to have now been dissolved following a month on the market with no buyers interested in snapping up the service after a revamp in July.
Joost "failed to sustain a significant share of the internet video industry and was unable to address this effectively through a re-positioning of its services", says the liquidators.
Niklas Zennstrom and Janus Friis, Joost's founders, are said to be busy setting up the typically vowel-light Rdio, an online music streaming subscription service for sharing and listening to music online or via mobiles due in early 2010.
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