According to Variety, which broke the news, the team behind Vessel will rebuild Go90, following Verizon’s acquisition of Vessel in October.
“Our focus with Go90 and our Verizon digital media efforts are to fulfill our strategy of leveraging Verizon content investments, enhancing user experience and strengthening our advertising infrastructure,” said Verizon in a statement.
“Fulfilling this strategy has resulted in some duplicative resources and has required organisational changes impacting 155 employees as we consolidate offices in Los Angeles, San Jose and New York.
“These changes are not indicative to a change in our strategy and we remain committed to rapidly enhancing our existing online video products and delivering new products.”
Ex-Hulu CEO Jason Kilar and ex-Hulu CTO Richard Tom launched Vessel in March 2015 as a start-up after raising millions of dollars in investment. The online video service closed on October 31 after Verizon swooped to buy the technology and software that underpins it.