Joost Receives $45 Million in Venture Capital

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Date: Friday, May 11th, 2007, 09:24
Category: News

joost.jpg
In spite of the recent madness that’s surrounded the company, there are those who believe that Joost may be the biggest thing out there and are willing to back it. Five firms recently ponied up about $45 million according to iPodObserver, a Reuters article calling Joost “the hottest thing in Internet video after YouTube, is seeking to do for long-form television programming what YouTube has done for short, user-created video sketches.”
So far, Joost has been able to secure content from networks such as Viacom, CBS, and Time Warner as well as lined up contracts with 31 name brand advertisers, despite still being in the beta phase.
Joost currently boasts about 150 channels and current users are able to invite an unlimited number of people to receive the latest beta build of the software. The program requires an Intel-based Mac and Mac OS X 10.4 or later to run and is a 15 megabyte download.


joost.jpg
In spite of the recent madness that’s surrounded the company, there are those who believe that Joost may be the biggest thing out there and are willing to back it. Five firms recently ponied up about $45 million according to iPodObserver, a Reuters article calling Joost “the hottest thing in Internet video after YouTube, is seeking to do for long-form television programming what YouTube has done for short, user-created video sketches.”
So far, Joost has been able to secure content from networks such as Viacom, CBS, and Time Warner as well as lined up contracts with 31 name brand advertisers, despite still being in the beta phase.
Joost currently boasts about 150 channels and current users are able to invite an unlimited number of people to receive the latest beta build of the software. The program requires an Intel-based Mac and Mac OS X 10.4 or later to run and is a 15 megabyte download.

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