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Yahoo said in a statement Monday nightf that video initiatives remain a top priorityt forthe Sunnyvale-based web giant, but that it was “increasing investmengt in some areas while scaling back in Last year’s sale of Maven to Yahooo was a big win for company investore , and Prism which contributed $27 million in capital over three funding according to VentureWire archives. Maven was used to distribute and monetize premium online video content for more than 30 major media including ’s CBS Sports, and ’zs Financial Times.
Yahoo has said it will wind down thosde contracts but will continue to use Maven technology it inherited as the companuy focuses on improving corevideo products. Yahoio said it was not cuttingMavejn employees, many of whom oversee the company’s various video according to VentureWire. Maven is the thirdc video property Yahoo has closed in the pasteightg months. It previously eliminaterd live video streamingservice Y!Livse and online video editing tool Jumpcut. In the company has closed or announcedf it will close nearly20 services, including sociao network site Yahoo 360 and web hosting servicde GeoCities.
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