Media

Samsung snaps up struggling video streaming service Shelby.tv & promptly shuts it down (UPDATED)

Image Credit: Samsung

Today Shelby.tv, a former graduate of the Techstars startup incubator, announced that it has been acquired by Samsung.

Although New York-based Shelby.tv launched in 2011 with praise, the startup struggled to remain in the limelight and later went dark during a long-term product redesign.

According to the company’s formal announcement, the service will shut down July 1, 2014. However, the team shares that Shelby.tv will live on as a separate entity developing “new technology … as part of Samsung Electronics.”

We reached out to cofounder Reece Pacheco, who said he was very excited about joining Samsung.

“We’re really excited. We’re working on some bad-ass stuff,” Pacheco said.

Samsung is acquiring the six-person Shelby.tv team, making this a “manquisition” (and they are all men). Samsung is not acquiring other Shelby assets, the Shelby blog explained:

Shelby will remain an independent entity and will retain its business, products and customers, but will begin winding down its operations. We know you’ve spent a lot of time with Shelby, and have consequently built a library of favorite videos worth saving. So, we built a handy tool to export all of your favorites/shares from Shelby. Just be sure you are logged into Shelby, and then follow the simple instructions on this page and enjoy digging back into your archive! You have until July 1, but why not do it now!

shelbylogotrans_2

Hinting at the team’s future products, Shelby.tv notes, “Consumers still demand an innovative solution to accessing their favorite content.”

This deal follows Samsung’s $30 million acquisition of Boxee and reflects Samsung’s continued interests in building a media platform. It seems likely that the Shelby.tv team will join the Boxee team within Samsung.

A serial entrepreneur, this is Pacheco’s first corporate gig.

“We’re gonna put our heads down and go to work pretty hard,” he added.

More information:

Samsung Group is a South Korean multinational conglomerate company headquartered in Samsung Town, Seoul. It comprises numerous subsidiaries and affiliated businesses, most of them united under the Samsung brand, and is the largest Sout... read more »

Powered by VBProfiles

6 comments
Alexis Doualle
Alexis Doualle

Never gonna pick you up! Never gonna shut you down. VB, you've been rickrolled.

Kate Gallagher
Kate Gallagher

Just like Blip.TV seriously these streaming services are having a hard time grasping at anything though. Unless the company is large enough to broker deals for major studio productions or willing to back them themselves it's going to be a hard go that's for sure.

Robert Orozco
Robert Orozco

Named after one of my favorite cars and one of my favorite ex's, I'm intrigued lol I've never heard of them before

Joshua W Hays
Joshua W Hays

I never saw the need for Shelby, and I never thought they had a good long-term plan to become a bigger business. They've been grasping since launch, I'm sure they're thankful for the acquisition.

HarrisonWeber
HarrisonWeber

@wahoo changed to "Samsung snaps up struggling video streaming service Shelby.tv, shuts it down"