Joost closes UK offices

joost

Video service Joost has reportedly shut down it’s UK offices and gone into liquidation after it failed to compete against sites like YouTube.

Joost was created by Kazaa and Skype founders Janus Friis and Niklas Zennström in 2007.

The liquidator said the company has “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.”

Rumours are rife that Zennstrom and Friis are planning on launching a new music subscription service, called Rdio early next year.

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