Financial Times FT.com

Joost scraps consumer video service

By Kenneth Li in New York

Published: June 30 2009 18:35 | Last updated: June 30 2009 18:35

Joost, the online video service launched by the founders of Skype in 2007, is restructuring its business to provide video technology to other media companies rather than compete as a consumer video site.

As part of the restructuring, it plans to eliminate an unspecified number of employees and focus its operations in New York and London.

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