Joost shuts down in the UK

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Web TV firm Joost has liquidated its UK arm, according to media reports.

Founded by Niklas Zennstrom and Janus Friis, the creators of Skype and KaZaa, Joost won a lot of investor support early on, but has hit by troubles lately.

In June, the firm switched from a commercial online TV provider to a white label video platform. Last month, chief executive Mike Volpi was forced out by shareholders, as a legal battle between Skype and eBay hit Zennstrom and Friis.

Now, according to a report in the Financial Times, Joost's directors wrapped up UK business earlier this month.

The newspaper reported that the liquidators said Joost still had a "skeleton staff" in London. It still has offices in the US and the Netherlands, where it is based.

Joost could not be reached for comment at the time of publication.

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