Investor Confirms 56.com Transformation Rumor
Sohu IT, 9/12/08
Today, an investor in online video site 56.com confirmed the company will step out of the video sharing market, and transition into a community site centered around life experiences. The investor claimed the one-month-long site closure was one impetus for the change, while another was the ongoing lack of a profitable business model for the site.
Editor's Note: for more background information on 56.com's downtime, please see "56.com Site Down for "Repairs", MD 6/04/08 issue.
Keywords: online community Web 2.0 56.com business model Internet online video
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