We learned last week that Vodacom was looking to find new investors for Zoopy or even sell the company outright.
Bandwidth Blog just received this official statement from Jason Elk, Co-Founder of Zoopy:
After launching Zoopy in March 2007, we have built a company and service that we have been incredibly proud of. We have decided that it’s now time for us to move on to new opportunities and we will be leaving Zoopy at the end of September. We would like to wish the company the very best going forward. Jason Elk, CEO Pat Elk, Operations Director
What does the future hold for Zoopy with its parent company looking for outside investors and the champions of the business leaving after 6 years? Zoopy’s rebirth was a well executed play and seemed like a logical move seeing as its parent company is a mobile network operator. MNO’s are looking at various ways to drive data revenue and Zoopy’s short video news clips did just that.
But with all that expensive video equipment, editing and presenter staff (see their old office photos here) it’s likely a costly operation to maintain and with digital ad revenue, especially video ads, not quite mature enough in our local industry to be a big revenue driver for them.
Zoopy played its part in establishing Cape Town as a local startup hub and we would like to wish Jason and Pat good luck with their next move.