TV startup BeeTV shuts down
Social TV service BeeTV has closed shop, selling off its assets, it’s been reported. The Italian start-up originally began as a way to to create personalized TV recommendations for their subscribers, but then it spun off to become an iPad app.
As an app, “once a user has logged in with Facebook and chosen his TV provider, BeeTV makes recommendations based on his or her favorites, also providing a list of live and upcoming shows that a user might be interested in,” GigaOM reported in May.
Now, BeeTV has fallen on hard times. CEO Yaniv Solnik told TechCrunch they’ve failed to gain significant traction with the new strategy, and that they’ve subsequently ran out of cash. They plan on ceasing all operations soon.
The company has secured just under $10 million in funding in its four years of existence.
TechCrunch also writes BeeTV’s assets are up for sale, including “a patented recommendation engine for TV and a consumer-focused social TV service that encompasses iPad, iPhone and Web clients.”