<div id="subtitle">Video startup Joost gets bought by online ad company Adconion Media Group for undisclosed sum</div><div><p>The struggling online video startup Joost, begun with much fanfare by the creators of Skype and Kazaa, has been sold to an online advertising company.</p><p>Adconion Media Group said Tuesday it bought Joost assets for an undisclosed sum. These include the technology behind Joost's video platform and the Joost trademark.</p><p>About 12 Joost employees — the majority — were given jobs at Adconion, which plans to continue operating Joost.com as an entertainment site.</p><p>Joost, which had been shopping for a buyer for several months, had earlier approached cable TV operators Comcast Corp. and Time Warner Cable Inc. about a sale.</p><p>The site was started with much fanfare by Janus Friis and Niklas Zennstrom, the people behind the Internet phone service Skype and the file-sharing service Kazaa.</p><p>Joost turned to online video after an unsuccessful stint as a peer-to-peer sharing site. But it found that it couldn't survive on advertising. As a result, the company again shifted its focus, this time from being a consumer-focused online video site to helping businesses manage videos on the Web.</p><p>Tyler Moebius, CEO of Santa Monica, Calif.-based Adconion, said the acquisition will help the company expand the video advertising products it offers.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=64149170&bid=informcom" /></div><div id="copyright"><div>

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