Using P2P streaming, they looked set to create a new model of broadcasting that would harness the power of file-sharing.
That was then. Now, as Michael Arrington reports for TechCrunch, they've given up.
They over funded ($45 million before they even launched) and they ignored the fact that users were quite willing to sacrifice quality in online video for the convenience of Flash in the browser. Joost waited until late last year to go all Flash - until then users had to use the downloadable Joost software and allow P2P streaming of shows. In the meantime there was no linking to Joost videos. YouTube and Hulu got all that social media and SEO juice that could have gone to Joost.Not that the traditional media companies will be cracking open the champagne. They've all got their own problems - see ITV's record low-ratings last week, for example.
Update (02.07.2009): Hulu and YouTube home in on landmark UK deals