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Here Comes the Video Shakeout: Joost Scales Down, CEO Mike Volpi Steps Out

Peter Kafka in Media on June 30, 2009 at 8:49 am PT

Here’s the beginning of the inevitable online video shakeout: Joost, the once-hyped video service that was supposed to rival Google’s YouTube, is restructuring to focus on “white label” services, i.e., a back end for other video players. The site is laying off the majority of its 100-plus employees, and CEO Mike Volpi is out, replaced by Matt Zelesko, who had been SVP of engineering.