Investor confirms that I'm happy to give up video and transform communities

"Sohu It News" September 12 news, video sharing website i le net an investor to Sohu it confirms, after the board of Directors decided, I have decided to give up video sharing business, will transform to "dynamic album" product-oriented community business.

The investment agency has invested 20 million of dollars in a second round of funding from My network. It revealed to the Sohu it, more than one months of shutdown, so that investors began to think about the direction of my music network development.

"I Lok Gateway Station One months is the direct cause of my Music network transformation." The investor said, "the intense competition in the video-sharing field has also made my network not optimistic." The third reason is that there is still no profit model for video-sharing sites. "It is reported that I will gradually give up the video business, will be the main focus on mobile album business." Dynamic Photo Album is one of the earliest services provided by our network, users only need to pass MP3 and a few photos can be produced similar to video streaming media files.

June 3, I le Network in the nationwide access failure. I am happy to publish the bulletin said that the computer room line failure caused the site can not access. And some people in the industry said, I am happy because the video content involved in violation of the relevant departments to give off warning. It was not until July 11 that I regained my access to the net. The 1-month shutdown gave me a hard hit on the net, leading to the exit of the first camp from video sharing.

At the end of last year, SARFT implemented a licensing system for online video, which only licensed on-line video companies could operate online. At present, including Youku, cool 6, potatoes and other video-sharing companies have been photographed, and I have not yet received video license.

It is reported that I hope that through the transformation of the network to reverse the situation, but the current social network competition, I will still face a fierce game. Of course, they will never be willing to see the premature death of investment projects, including our investment in Sequoia Capital, Intel Investment and Disney investment. East