Vidme Shutdowns Abruptly Leaving Content Creators Shocked | Can Anyone Compete with Youtube
30Vidme Shutdowns Abruptly leaving Content Creators Shocked | Can Anyone Compete with Youtube
Vidme Shutdown VARIETY ARTICLE:
http://variety.com/2017/digital/news/vidme-shuts-down-video-app-1202628367/
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Vidme was a video hosting service that was launched to the public in 2014.[1]
The company was founded in 2014 by Warren Shaeffer and Alex Benzer in Los Angeles, California, and was originally called Viddme. After gaining in popularity, Viddme purchased the domain for Vidme and changed its name.[2]
It has been self-described as a hybrid between video hosting website YouTube and social network Reddit.[1]
In April 2015, the site received a $3.2 million Series A round of funding.[3][4] Investors in the seed round included, Mark Suster of Upfront Ventures, Reddit co-founder Alexis Ohanian of Initialized Capital, First Round, Lowercase Capital, SV Angel, Mucker Capital and Launchpad. As of April 2015, Vidme had 30 million uniques per month.[4] The following year, it received a $6 million round.[5]
On December 1st, 2017, Vidme announced it would shut down on December 15th. This was due, apparently, to not finding a sustainable model. Vidme ceased to take new uploads or new members at Noon on 1 December, and announced the Videos on the site will remain accessible until the 15th when they are deleted as the site shuts down.