CNN is buying Casey Neistat’s Beme app and shutting it down

CNN has acquired video-sharing start-up Beme, a social media app launched last year by popular YouTube star Casey Neistat. The deal is valued at about $25 million.

I always enjoyed Casey’s videos, and was a bit bummed out that he was quitting daily vlogging. So this must be his next thing.

Looks like CNN is acquiring the Beme app, but they’re shutting it down and funneling the video tech and talent elsewhere. Casey (and his co-founder Matt Hackett) will be heading up a ‘standalone media company’ within CNN in the near future.

Source: CNN Buys Casey Neistat’s Video App Beme