Telstra’s tech dream dies as management buy out the Ooyala streaming platform

October 18, 2018 9:09

Video streaming platform Ooyala has been bought out by its management, ending Telstra’s venture into the tech space.

Telstra wrote off its US$313m investment in Ooyala earlier this year, four years after taking a 98% stake in the business. At the time of the write-off, Telstra’s then chief executive for technology, innovation and strategy, Steve Elop, said Telstra would continue to support the business.

Former Telstra executive Steve Elop was adamant Ooyala would remain part of the telco after writing the business down last year

Subscribe to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Paul Wallbank

Paul Wallbank was news editor at Mumbrella between June 2017 and June 2019. Previously he's covered business and technology issues for outlets ranging from The Australian and Sydney Morning Herald to the ABC and Business Spectator.

Topics