The founder of Veoh, Dmitry Shapiro, has announced that the video sharing site will file for Chapter 7 bankruptcy and liquidate. Ongoing lawsuits over copyright infringement from video uploads and the bad economy were given as the main reasons. Or as Shapiro said on his web site, “The distraction of the legal battles, and the challenges of the broader macro-economic climate have led to our Chapter 7 bankruptcy.”
Veoh, founded in 2005, had $70 million pumped into it by private investors and claimed 28 million unique visitors a month.
So if you’ve uploaded any videos to Veoh, they’ll likely soon be gone. Along with any Veoh pages containing your videos that were ranked in the search engines.