Another video service is biting the dust as Veoh is going to file for bankruptcy (Chapter 7). Although Veoh had won in court against the Universal Music Group in a DMCA lawsuit, had tens of millions of users, millions in revenues, but in the end the company couldn’t generate enough cash to stay afloat. This news is terrible for many Veoh users and many websites that are using Veoh as a place for video uploads. Would Veoh eventually shut down its website and services completely? Someone else will buy Veoh and continue to keep the same services in service? Those questions are not yet known, but for filing a bankruptcy, it doesn’t look good for Veoh and its users at all! Source.
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Vinh Nguyen
