Mere days after Ventureburn was tipped off that parent company and mobile operator, Vodacom, could offload a large portion of its investment in Zoopy, the mobile video company, founder Jason Elk and co-founder Pat Elk announced in a statement that they will be leaving Zoopy at the end of September.
The statement reads: “After launching Zoopy in March 2007, we have built a company and service that we have been incredibly proud of. We have decided that it’s now time for us to move on to new opportunities and we will be leaving Zoopy at the end of September. We would like to wish the company the very best going forward. Jason Elk, CEO Pat Elk, Operations Director.”
Zoopy originally launched as a video sharing site, but later pivoted into a mobile video entertainment platform, delivering bite sized original content with a strong focus on mobile consumption.
In 2008, Vodacom purchased a 40% share stake in Zoopy and an additional 35% stake in 2009. Vodacom acquired the remaining 25% stake in the company in 2010.