Adconion, an online advertising company, has acquired most of Joost, bringing to an unhappy end the online video venture backed by the founders of Skype.
Niklas Zennstrom and Janus Friis, who founded Joost in 2006, raised $45m from investors including Sequoia Capital, Index Ventures and Li Ka-shing, the Hong Kong tycoon, before launching the service to great fanfare in 2007.
But Joost struggled to compete with online video sites run by broadcasters, such as the BBC’s iPlayer and Hulu, owned by NBC and Fox. It abandoned its consumer-facing business in July to focus on selling its technology to other media companies.
Last month, its UK arm was put into liquidation. Now Adconion has acquired some of Joost’s technology, staff and content deals for an undisclosed fee, along with the rights to Joost.com. Read more
Ebay’s attempt to offload Skype to a group of investors just got even more complicated.
Joost and Joltid, the companies owned by Skype founders Niklas Zennstrom and Janus Friis, today filed a motion for a preliminary injunction against Mike Volpi and Index Ventures, two of the players in the group seeking to buy Skype. If granted in full, the injunction would essentially ban Mr Volpi and Index from participating in the deal for the time being.
The motion is the latest move in a legal onslaught from Mr Zennstrom and Mr Friis that began even before the current deal for Skype was announced, and seems designed either to get them control of Skype or, more likely, make sure they get a piece of the action after a sale. Read more