Beme Connects with CNN to Expand Reach in Multimillion Dollar Merger
Casey Neistat and Beme are set to merge with CNN in 2017 following a multimillion dollar deal.
Neistat, the indie YouTube success story, recently started a video-sharing app with the company Beme. Overall, the company brought in users, but like many applications, it experienced difficulty retaining attention with returning users.
Neistat pivoted with that company to working out a large deal with CNN for a reported 25 million dollars.
The Wall Street Journal also notes, ‘as part of the acquisition, CNN will by summer of next year launch a standalone media company led by Mr. Neistat and Beme co-founder Matt Hackett that will focus on “timely and topical video and empowering content creators to use technology to find their voice,” CNN said in a statement.’
After following Neistat from his early YouTube videos, along with the VLOG, I now plan to check out his next form of cinema and storytelling on CNN. In a lot of ways, Neistat is a direct influence on myself and several thousand YouTube producers. I was able to sit in during a live discussion he was apart of at Sundance 2014, and found his hard work and passion for storytelling to be underestimated overall. It is excellent that CNN is working with him and the Beme team.
Even though Casey Neistat is a big influence, I do question that amount of creative control CNN will be looking for between the producer and the outlet.
In the YouTube video below Neistat covers the merger in a wide glance. He does share insight on the progression that a tech startup takes when building a company.
Each company is different, but I often use Mark Cuban’s advice of not going after another companies or individuals money.
Neistat mentions that he had to raise a large sum of money to get Beme launched. After the application started to drop off in user interaction, I would have also been fearful on how to return the investment. That is where I support Cuban’s advice. In this case, Neistat was able to find another company to absorb his company, but overall, if he could have raised the money without investors, he would have been in a much better position.
With Neistat getting several elements right in media publishing; it is still a blessing to be able to learn from his career development.
Watch over Neistat’s YouTube video below going over his recent deal with CNN.