So, Joost are becoming a video management system, having singularly failed as a consumer service. The hype surrounding what was the Venice Project was extraordinary, but making the wrong techology calls before getting a foothold in the market was their downfall (actually, these same mistakes were repeated by the BBC, C4 and now by Sky in part).
Ironically, this announcement comes on the same day as Yahoo closes its video management platform, Maven, a company it bought a year and a half ago for nearly $200m.
Joost will becompeting head on with Brightcove, who have made great inroads in this market in recent times, theplatform, the grandaddy of them all, and KIT Media, who now own Narrowstep.
Knowing how tough the VMS market is, I suspect this latest incarnation will be less than successful.