Joost UK calls in the administrators

The UK arm of online video company Joost has gone into liquidation.

Joost

At the start of the month Joost UK, owned by Netherlands-based Joost Technologies, appointed a liquidator, Paul Appleton, managing partner at chartered accountants and insolvency specialists David Rubin & Partners LLP.

The move marks the end of a turbulent journey for the UK arm of the start-up, which was launched by Skype founders Janus Friis and Niklas Zennström in 2007.

In July, Joost CEO Mike Volpi stepped down from his role as the company announced it would focus on business-to-business white-labelling (nma 7 July 2009).

At the time he blamed the self-publishing model taken by broadcasters and media companies for the downfall of the video-on-demand service.

Rod Reekin from David Rubin & Partners said, “The hope was that the business could be sold on, on a worldwide basis. Essentially the concept just didn’t work.”

This story first appeared on newmediaage.co.uk

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