Wednesday, June 30, 2010

Report: Move Networks Out Of Business

A report today says that Move Networks, the video streaming firm founded by Novell founder Drew Major, has shut down, according to a report from The Diffusion Group. The research and market strategy firm cited the mysterious cancellation of CEO Roxanne Austin at conference OOTcon East, saying that it has heard that Austin has resigned from the firm. Move Networks had mysteriously moved its headquarters to Southern California in May, in the midst of an un-announced venture funding effort. Move was backed by Benchmark Capital, Cisco Corp., Comcast Interactive Capital, Hummer Winblad Venture Partners, Microsoft Corp., and Steamboat Ventures.