After Periscope’s acquisition from Twitter and Facebook’s launch of it’s Live feature, Meerkat saw its usage share drop dramatically; as a result the live video platform announced that it can no longer compete with the big names.
According to Re/Code, Meerkat CEO Ben Rubin informed the platform’s investors via email about his plans regarding the future of the service. According to that email, Rubin’s hopes about exponential growth of live streaming video were not quite accusation.
Sure, the two major social networks are already offering live streaming solutions and the corresponding integrations, however, the industry is hard. And Meerkat has been left standing alone, facing not only a stalled market, but also fierce competition from Facebook and Twitter.
During March 2015, Meerkat caused a sensation during SXSW, where the app was crowned as the darling of the event with brands live streaming through the platform. So what’s next for Meerkat? According to the same sources, the app is looking to explore a video social media network that will help users share their videos with a smaller network of friends and connections. Although no more details were made public, we will be keeping a close eye and hoping for a successful next step for Meerkat.
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