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Joost reaches 1m user mark

Joost reaches 1m user mark

P2P internet TV service Joost has been used by more than a million beta testers so far, co-founder Niklas Zennstrom told reporters at a press event in Estonia. Clearly, the buzz around the online TV platform has helped push the user numbers up to such impressive levels. Zennstrom also said that Joost plans a full launch by the end of the year. Founded by Zennstrom and fellow Skype co-founder Janus Friis, Joost launched a limited beta version back in December, and has since increased the number of available invitations. Joost is mainly funded by its co-founders, though it raised $45 (£22m) in funding from Index Ventures, Sequoia Capital and others in May, all of whom have a minority stake in the company. The picture quality on Joost is superior to most other online video services, with Babelgum being the only real P2P competitor so far. Joost, having launched earlier, has a broader range of content, and has also managed to get some major advertisers on board for pre-roll and overlay ads. Zennstrom told the press that Joost has signed up around 30 'Tier 1 advertisers". Source: E-consultancy

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