Joost was what the creators of Skype went on to after it was sold. They've recently announced a new focus for the company, mainly they want to be a white box video platform and they're working toward that goal now.
The new Joost will seek to allow media companies to create a branded video sharing presence for themselves. It seems that Joost wasn't doing so well as a consumer-facing product, competing directly with YouTube, and so they've moved their aim at bigger potential clients. Meanwhile Hulu has taken the lead for high quality broadcast TV video online.
Mike Volpi, CEO at Joost will step down as Joost restructures to achieve their new goals. In his seat will be Matt Zelesko, senior vice president of engineering.
The downfall of Joost as a consumer service can probably be blamed on the need to download a piece of software in order to upload and stream videos which we all know we don't need to do on many of today's most popular services and certainly won't need to do in the near future with the HTML 5 <video> tag. Joost has been in a downward spiral ever since its launch and this recent restructuring looks like a last ditch effort to keep the company from completely folding.
The last move, to that of a video-streaming portal will not be undone just yet as they've announced that it will remain open but they'll move to provide a full-service, low-cost video sharing solution for media companies that are looking to build online video portals.
Joost currently has about 100 employees but some are expected to be laid off due to the restructuring. If they can manage to turn themselves around and provide a great full-service end-to-end product they could very well save themselves and create a nice niche for themselves. They'll have a lot of others to contend with to carve out some market space but if they bridge the gap between difficult-to-implement open source products and crazy expensive full-service ones...they just might get a third shot at salvation.