In July we told you about the deal to save internet TV streaming site SeeSaw which had been due to close down. Unfortunately it looks like the site has failed and SeeSaw has been closed for good, recently Channel 4 and Channel 5 pulled their content from SeeSaw and it looks like competition from the likes of Youtube and ITV meant that the service couldn’t complete any more.
via the BBC
“Having completed the sale of SeeSaw in July, Arqiva is very disappointed by the failure of the new investors to provide their committed funding,” the company told the BBC.
“Without that funding the service had to close.”
Criterion Capital Partners could not be reached for comment.
“In the end they didn’t have the backing they needed to make it – the kind of content that drives significant levels of usage,” said Ian Maude, head of Internet at Enders Analysis.
“They were in a very competitive market. ITV wouldn’t supply them content, and Channel 4 only did for a while. With competition from Google’s YouTube they just didn’t have a chance.”