Arqiva, the firm behind the free catch-up TV service employed technology originally used for the Project Kangaroo venture to offer around 3,000 hours of free content from broadcasters including the BBC, Channel 4 and Five. The shows are peppered with 60-second adverts that cannot be skipped, in a style similar to Swedish music-streaming service Spotify. Alternatively, a premium service that offered around 1,000 hours of paid-for shows from broadcasters including Comedy Central, BBC Worldwide and MTV was also available.
However, Criterion Capital Partners, which paid AOL $10m for Bebo last year, has now purchased SeeSaw for an undisclosed amount. Arqiva retains a 25 percent stake in the service while the former head of Channel 4, Michael Jackson, who runs Bebo on behalf of Criterion, has also purchased a share in SeeSaw and has been named as SeeSaw’s chairman.
“We are thrilled to bring SeeSaw into our portfolio - not just because of the industrial strength of its technology, but because it is at the forefront of the new viewer-led TV experience," said chief executive of Criterion Capital Partners, Adam Levine.