Move Networks, a market leader in adaptive bitrate streaming for over-the-top delivery of online video, is seeking a buyer, has laid off much of its staff and says President and CEO Roxanne Austin is stepping down immediately.
Andy Tarczon, a founding partner at the Diffusion Group said Move's demise isn't much of a surprise. The company has wallowed of late, brought in only $3 million of a hoped--for $20 million in its last funding round and has lost some of its largest customers, including Fox.
Move's adaptive bitrate technology, he said, provided "the best quality video experience online."
For more:
- see this release
- see this TDG commentary
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