After CNN bought Beme for millions, CNN is now effectively shutting it down

It was less than two years ago when CNN dropped around $25 million for Neistat’s video-sharing app, Beme. At the time, CNN said that Beme would be a standalone company focused on producing “timely and topical video and empowering content creators to use technology to find their voice,” CNNMoney reports.

Youtube personality and Beme founder Casey Neistat confirmed that he and Beme co-founder Matt Hackett are leaving CNN.

Matt Dornic, a spokesman for CNN, said that Beme “will no longer be a standalone business,” although the “brand and products will live on at CNN.”

CNN is trying to shuffle around Beme’s 22 employees to other positions at the network, but did acknowledge some will be let go.

“I couldn’t find answers. I would sort of disappear, and I would hide, and I would make YouTube videos for my channel because at least I would be able yield something,” Neistat said. “I don’t think I’m giving CNN what I want to give them, and I don’t think they’re getting value from me,” Neistat said.

Categories: CNN

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