Akimbo, the company which was a video-on-demand turned white label video service, met its unfortunate end on 22nd may.
This company initially started with an unsuccessful Set Top Box hardware which allowed people to download their desired TV programmes from its 200 partners. After this effort, they came into the advertising system, multiple business models including ad-supported, transactional, subscription, download-to-own, download-to-burn, pay-per-minute and gift cards. In the year of 2006 this company recieved some much needed financial aid of $15 million from Cisco and AT$T to support its falling efforts.
In February 2008, they again tried to enter the field of Video Service Models. However they failed to achieve the targeted funding of $8 Million. Along with a not-so-effective business strategies, this company was also plagued by high level Executive disagreement, poor management and marketing decisions with led to this company drowning deep into the market.
Bottom line is that this company could not utilize the millions it received in funding to plan a formidable comeback in the ever competitive market. Poor thing that this company couldn’t cash the help it had received in its long run.