By Sahil Patel
Video discovery service Shelby.TV has been acquired by Samsung and will shut down its apps once an official announcement has been made, according to GigaOm. The team at the NY-based video startup, which has raised $3.9 million from Avalon Ventures and numerous angels, will also join Samsung as part of the acquisition.
UPDATE: Via a statement, Samsung has confirmed that it’s acquired “key members” of the Shelby.TV team, but not the startup’s video product and business. It’s an “acqui-hire,” but one that will undoubtedly result in the end of the video-discovery service.
An acquisition by Samsung is a fortuitous exit for Shelby.TV, a company that’s previously seen some rough times in the increasingly cluttered video-discovery game. Founded three years ago, Shelby.TV went dark two years ago so the team could rebuild a service that they weren’t completely happy with.
The service returned last fall with a brand new iOS app and a channelized video experience, which pulls in clips from YouTube, Dailymotion, and Vimeo based on what you and your friends have watched, liked, and shared.