Beme

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Beme Inc.
Subsidiary
IndustryTechnology
Social media
News
FateMerged with CNN Digital Studios
Founded2014; 5 years ago (2014) in New York City, New York, U.S.
FounderCasey Neistat
Matt Hackett
DefunctJanuary 25, 2018; 15 months ago (2018-01-25)
HeadquartersCNN Center, ,
U.S.
Area served
Worldwide
Key people
Casey Neistat
(Executive Producer)
ProductsBeme News
Beme Panels
Beme (app)
Exit Poll Live
ParentCNN (2017–present)
Websitebeme.com (archive)

Beme Inc. (/ˈbm/), stylized as beme, was a multimedia company founded by Matt Hackett and Casey Neistat, a vlogger and short film maker on YouTube.[1][2] Beme Inc. was the creator of the mobile app, Beme. On November 28, 2016, CNN announced that it would acquire Beme.[3] CNN intended to invest in the company and create a new brand focused on a young audience.[4] The Beme app was officially shut down on January 31, 2017.[5] Beme was merged into CNN Digital Studios on January 25, 2018. Despite this, the Beme News YouTube channel is still active.

History[edit]

In 2014, Beme Inc. was founded by Matt Hackett and Casey Neistat. On July 17, 2015, Beme Inc. released a mobile app called Beme on the iOS App Store. The app enables users to produce unedited 2-to-8-second videos, which are immediately uploaded and shared with the user's subscribers, without the ability to preview the video.[6] On July 28, 2015, Casey Neistat confirmed a US$2.6M seed round led by Lightspeed Venture Partners[7] and VaynerRSE.[7] On May 2, 2016, Beme was released for Android on the Google Play Store. At TechCrunch, in May 2016, Neistat informed that they had raised a total of US$6M and had 11 full-time employees (10 technical, 1 responsible for social media). He also reported that burn rate was under around US $180k per month and that his salary was US$0.[8]

On November 28, 2016, CNN announced the acquisition of Beme Inc. for a reported US$25 million and became a subsidiary of Turner Broadcasting System, Inc.[9] In late 2017, cofounders Matt Hackett and Casey Neistat announced that they were leaving Beme and that it would be folded into CNN Digital Studios. A YouTube page titled Beme News is now making content with Neistat serving as Executive Producer.[10]

Acquisition by CNN[edit]

On November 28, 2016, CNN announced the acquisition of Beme Inc. for a reported US$25 million.[9] On November 29, 2016, Matt Hackett, co-founder of Beme Inc., announced via an email to its users that the Beme app would be shutting down on January 31, 2017.[11] Since the shutdown of the app, it was announced that CNN intended to use the current talent behind the Beme app to work on a separate start-up endeavor. Beme's current team will retain full creative control of the new project which is scheduled to release in the summer of 2017.[12] Beme has brought on the host of Vsauce 3, Jake Roper, as Head of Production.[13]

On January 25, 2018, Casey Neistat announced on his YouTube channel that he and Beme co-founder Matt Hackett were leaving Beme Inc. and that Beme would be brought into CNN Digital Studios. Neistat will still be credited as an Executive Producer for the show.[14][15]

References[edit]

  1. ^ "Casey Neistat's Video App Avoids the Artificial Self-Image - artnet News". artnet News. Retrieved 2016-01-15.
  2. ^ "Casey Neistat - Youtube". YouTube. Retrieved 2018-10-20.
  3. ^ Spangler, Todd (28 November 2016). "CNN Acquires Social-Video Startup Beme, Co-Founded by YouTube Star Casey Neistat". Variety.
  4. ^ Etherington, Darrell (28 November 2016). "CNN buys Casey Neistat's Beme app, brings the YouTuber in-house". Tech Crunch.
  5. ^ "beme". beme. Archived from the original on 22 December 2016. Retrieved 22 December 2016.
  6. ^ "This New App Filters Out Phoniness and Sends 4-Second Videos You Can't Review First". Retrieved 23 November 2017.
  7. ^ a b "Beme - Funding RoundSeed - CrunchBase". CrunchBase. Retrieved 2016-01-15.
  8. ^ TechCrunch (2016-05-10), Casey Neistat's YouTube Life, retrieved 2016-10-25
  9. ^ a b Perlberg, Steven (November 28, 2016). "CNN Buys Casey Neistat's Video App Beme". Wall Street Journal. ISSN 0099-9660. Retrieved December 4, 2016.
  10. ^ "Beme News". YouTube. Retrieved 2018-03-25.
  11. ^ Hackett, Matt (November 28, 2016). "Beme is Shutting Down, But Our Work Is Just Starting". Medium. Retrieved December 4, 2016.
  12. ^ "i sold my company to CNN". 30 November 2016. Retrieved 3 February 2017.
  13. ^ "CNN update". Youtube. Casey Neistat. 5 July 2017. Retrieved 9 July 2017.
  14. ^ Neistat, Casey (25 January 2018). "Moving on from Beme". Retrieved 25 January 2018.
  15. ^ Hackett, Matt. "When Your Startup Stops". Matt Hackett. Retrieved 25 January 2018.