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Tag: Veoh

  • MySpace Music Hires Former Veoh Chief

    MySpace Music Hires Former Veoh Chief

    The inner workings of MySpace Music – along with a lot of stuff users see – may be in for a significant upgrade.  The organization announced today that it’s named Dmitry Shapiro, who earned a degree of fame as the founder and former CEO of Veoh, as its chief technology officer.

    Dmitry ShapiroTo provide a little background information: Veoh was a video-sharing site that ran into eventually-crippling problems over its right to show music videos.  But Veoh was quite successful for a time, chalking up over 23 million unique visitors one month.

    By comparison, MySpace Music, which is now the second most visited music site, draws around 30 million unique visitors per month.

    Shapiro should be more than capable of keeping MySpace Music in working order, then, and could be an asset in many other ways, as well.  Which is good, because MySpace said in a statement, "Shapiro will be responsible for all aspects of technical developments for the MySpace Music platform, including the next iteration of artist profiles and tools as well as the overall music experience on MySpace."

    Shapiro then gave a vague hint regarding what he has in mind by saying, "The next phase of digital music’s evolution will bring artists and music lovers closer together."

  • Video Site Veoh Files For Bankruptcy

    Video Site Veoh Files For Bankruptcy

    Online video website Veoh has announced it will be shutting down and filing for bankruptcy.

    Veoh launched in 2005 and its backers included Shelter Capital, Spark Capital, Michael Eisner’s Tornante Company, Goldman Sachs, Time Warner, Intel Capital, Adobe, Gordon Crawford, Firefly3 and Jonnathan Dolgen. Those backers supported Veoh with $70 million in investments.

    Dmitry Shapiro, CEO and founder of Veoh, said part of the company’s problems were due to a costly legal battle with Universal Music Group over copyright infringement and the challenging economic environment.
    Dimitry-Shapiro
    "Unfortunately, great vision, a passionate team, tens of millions of users, millions in revenues and victory in court were not enough," Shapiro wrote in a blog post.

    "The distraction of the legal battles, and the challenges of the broader macro-economic climate have led to our Chapter 7 bankruptcy."

    Under Chapter 7 bankruptcy, Veoh will sell its assets and will use the money to repay its creditors.

    Shaprio said Veoh had 28 million users per month, he did not provide details about the future of the site and what will happen to its content.

    "This chapter of our lives has come to an end, but a bright new chapter will soon begin, and I assure all of you reading this, that we have lots of important work ahead of us.  Stay tuned, you will hear from us again!" Shapiro wrote.