This comes as a great shock , one of the best sources for streaming pirated hindi movies and once Youtube competitor Veoh has filed for bankruptcy. In a parting letter Dmitry Shapiro, Founder and CEO, Veoh Networks wrote
Two years ago, Universal Music Group (UMG), the largest music company in the world sued Veoh alleging copyright infringement. While we made every effort to convince them that we were not their enemy and had not infringed on their content, they pursued a relentless war of attrition against us in federal court. We eventually prevailed in a decisive summary judgment that has set an important precedent for the entire industry.
Unfortunately, great vision, a passionate team, tens of millions of users, millions in revenues and victory in court were not enough. The distraction of the legal battles, and the challenges of the broader macro-economic climate have led to our Chapter 7 bankruptcy.
Veoh had to file bankruptcy succumbing to the copy right law suits despite doing a business with a run rate of $12 million, The video streaming site had a user base of 28 million users per month and had a funding of $70 million from Goldman Sachs, Time Warner and Spark Capital among others and grew to be one of the favorite sources for pirated hindi movies online.
India too has had many video sharing sites which mushroomed and then died without much ado. This kind of reinforces that except for a few big players like youtube, dailymotion and Hulu with diverse model none of the video players have been able to do anything significant.