"We are grateful for their confidence in our technology, product and team as well as their commitment to the innovation ahead in online video".
Verizon said on Thursday it is buying Vessel - an Internet video startup from former Hulu head Jason Kilar - for an undisclosed sum, but is planning to shut down the service in its current form later this month.
The streamer, which launched 18 months ago, charges US$2.99 per month for users to watch exclusive content from YouTube creators. At the same time, Verizon, the largest wireless service provider in the United States, has made clear their convictions about the future of online video. Financial terms of the acquisition deal were however, not disclosed.
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He hit on 16 of 34 attempts for 143 yards with one touchdown and one interception. "I thought he's been OK so far". Kelly also dismissed speculation that he could return to OR after the season if the Ducks fire Mark Helfrich.
In an interview, Verizon Entertainment General Manager Chip Canter said that the company plans to merge some of the social features that Vessel was working on with the content strategy Verizon already has in place. Unfortunately not everyone will remain on board following the acquisition - Kilar will remain with Vessel until the end of the year to ensure a smooth transition and his cofounder and chief technology officer Richard Tom will oversee the integration.
Vessel launched to much fanfare in 2014 and had raised more than $130 million from Bezos Expeditions, Greylock, Benchmark and Institutional Venture Partners.
Verizon said it is "committed to providing content from the industry's top creators on a mobile-first distribution platform both on and off the Verizon network". Vessel's annual subscribers will get a prorated refund to make up for its soon-to-be-shuttered service, and all customers will get October for free. Tom declined to say how many people had signed up for Vessel's service. Vessel has not announced how many subscribers it has. The acquihire of the YouTube-type service also arrives days after the carrier giant's biggest rival acquired Time Warner for $85 billion. Notably, Vessel CTO Richard Tom will become the CTO for Verizon's digital entertainment efforts.