Casey Neistat’s Beme Has Closed Less Than 2 Years After CNN Bought It For $25 Million
29 January 2018, 12:15 | Updated: 29 January 2018, 17:39
Beme has been shuttered less than a year and a half after being acquired by CNN
It has been announced that Beme, the multimedia company founded by Matt Hackett and YouTuber Casey Neistat, has been fully absorbed into CNN and will cease to operate independently. Its current staff are being brought into the news giant in other roles, leaving Beme effectively dead as its own entity.
What is 'Beme'?
Beme originally started as a simple video sharing app, not unlike Vine, with its main hook being that recorded videos were automatically published, without the user being able to preview them first. It soon grew in popularity, and the ambition of its creators grew with it.
Beme went from being a simple app, to the future of news delivery (at least according to its true believers). These lofty promises attracted a ton of investors and the attention of giant corporations like CNN.
What went wrong?
In short, Beme, and its affiliated projects haven't been able to live up to expectations. As a result, Casey is leaving Beme and CNN is making widespread changes - which mostly involve quietly shuffling it away.
In a Medium post, co-founder Hackett stated that, “ultimately, while we have built some valuable things, we didn’t hit the escape velocity the business needed to exist independently.”
Neistat told BuzzFeed “I don’t think I’m giving CNN what I want to give them, and I don’t think they’re getting value from me,” Neistat said. Casey then discussed the news with his audience in a short vlog on his channel:
What will happen now?
CNN will reportedly continue to operate the 'Beme News' YouTube channel. They will also CNN continue tech projects launched by Beme, such as news app 'Panels', a new platform for journalists called 'Wire'.
RIP Beme, we hardly knew ye.