BlueJeans: Sun starts to set on BlueJeans

The BlueJeans by Verizon video conferencing platform has begun the process of 'retiring' its services. It is seen by some as a further sign that corporate America has little faith in this virtual events product category. The first phase of the process is effective from 31 August with the discontinuation of the BlueJeans Basic tier and free trial offers. The rest of the platform is set to be shut down in the first half of 2024. Timelines for service availability will vary, the company said. The US telco Verizon acquired BlueJeans in April 2020 for what analysts believe was a figure north of $400m. The decision to sunset the product suite was reportedly taken due to "changing market conditions in a post-pandemic landscape". The video network was clearly not cheap to run and competition from the likes of Cisco's WebEx and Google's WorkSpaces, Teams and Zoom was intense. And, as workers return to the office, they have become less likely to need a video chat. While the virtual event sector boomed due to Covid, that growth was artificially inflated, and a market correction inevitable as investors realised there was no way to secure returns on the prices they had paid. BlueJeans was founded in 2009 by Krish Ramakrishnan and Alagu Periyannan and went on to raise $23.5m in venture capital. Verizon acquired the company in May 2020 when the company had more than 15,000 customers and 390 employees.The post Sun starts to set on BlueJeans appeared first on CMW.