Yahoo Inc. said it is winding down online-video service Maven Networks, which it acquired last year for $160 million, as part of the company’s continuing effort to shed noncore properties.
In The News on 12th Feb 2008: "Yahoo announced that it has snapped up online video platform provider Maven Networks, in a $160 million deal"
Yahoo Kills Maven:
The move to close Maven comes less than onemonth after Yahoo Chief Executive Carol Bartz said video was an exciting area and that she was interested in acquiring more video technology.
Yahoo said in a statement late Monday that video initiatives remain a top priority for the Sunnyvale, Calif.-based Web giant, but that it was “increasing investment in some areas while scaling back in others.”
Maven was used to manage, distribute and monetize premium online-video content for more than 30 major media companies, including CBS Corp.’s CBS Sports, GannettCo. andPearson PLC’s Financial Times.
This is the third video property Yahoo has killed off in less than 8 months, after shutting both Y!Live, a live video streaming service, and Jumpcut, an online video editing tool. Remarkably, Yahoo CEO Carol Bartz
recently declared on stage at a conference that the company is actually still interested in acquiring startups in the business of digital video technology.
recently declared on stage at a conference that the company is actually still interested in acquiring startups in the business of digital video technology.One month and the shuttering of a $160 million video technology acquisition later, it’s close to comical reading those words again. Then again, Yahoo’s prospects and financials at the time the acquisition was made sure looked a whole lot better than they do today, so maybe it’s just too easy to judge the move in hindsight.
than they do today, so maybe it’s just too easy to judge the move in hindsight.Either way, Maven Networks is now a member of the deadpool club, although there’s always the possibility of Yahoo selling off Maven to someone who wants to revive it.
Maven Networks (www.maven.net) is an online video platform provider with end-to-end video syndication, content management and advertising solution. Maven helps media companies create, distribute and profit from direct-to-consumer Internet TV channels and networks.
The Maven Internet TV Platform(TM) is used by organizations such as CanWest, CBS Sports, CBC, CNET, Gannett, The Financial Times, Fox Business Network, Fox News, Hearst, MediaNews Group, Ogilvy, Scripps Networks, Sony BMG, Sony Pictures Television, and TV Guide.
