Digital OOH company vJive, which was started in 2004 has shut shop, as mentioned by a reliable source (though company declined this news).
The company raised close to $5mn from Matrix Partners (in 2006) and tied up with retail outlets (like Subhiksha) as well as BFSI outlets for expansion.
Vjive Networks created a paradigm shift in the Out of Home (OOH) signage by replacing static signage with dynamic audio visual media across the nation; and had roped in advertisers like Ariel/Dove/Lux/AXE etc.
Vjive technologies include VJIVE Engine, an Internet based broadband media streaming engine that was used as a carrier to transport ads in real-time to digital screens.
While we don’t yet know the real reason, a few earlier rumors mentioned the tiff between the team and investors that caused the company to shut operations.
Will be updated with details, as we get them.
Update: VJIVE declined this article and mentioned that they aren’t shutting down operations.
We will update with more details later.