Monday, 31st January 2011, 17:30:00
Streaming TV portal SeeSaw has shut down after less than two years.
The online platform announced it had ceased operations by posting a message on the website that simply reads: "Thanks for your support but SeeSaw is no longer available".
After a troubled beginning, the service appeared to be thrown a lifetime when an investment group led by Criterion Capital Partners became the majority shareholder earlier this year.
However, providers such as Channel 4 and Channel Five recently pulled their content from the site and it was forced to cease operations.
Parent company Arqiva said it was "disappointed by the failure of the new investors to provide their committed funding".
The firm added in a statement: "Without that funding the service had to close."
According to experts, the company simply could not compete in the highly competitive video streaming market.
SeeSaw was set up using technology left over from Project Kangaroo, the catch-up TV platform that was rejected by the competition regulator.
Posted by Judy Gifford
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