Looks like another online video pioneer has fallen victim to recession rationalization as large media companies trim budgets to maintain profitability in the current poor ad sales climate. Maven Networks was acquired by Yahoo for approximately $160 million:
At the time, the press release touted the acquisition to lead to an expansion of the “state-of-the-art consumer video and advertising experiences on Yahoo.com and Yahoo’s network of leading premium video publishers across the web”. Now we’ve learned Yahoo is going to kill Maven Networks instead, the most recent in a long series of deadpooling of products and services by the Sunnyvale Internet behemoth. A tipster, who works for a large media company, tells us that he has been a Maven customer for years and was informed last week that Yahoo will cease all development on the platform and will no longer be supporting it in 2010.
Yahoo Kills Maven: From Acquisition To Deadpool In 17 Months (Updated)
