Verizon is officially shutting down its video calling service BlueJeans, just three years after acquiring the platform for $400 million. BlueJeans recently introduced free trials and a Basic plan in an attempt to better compete with rivals like Zoom, but a “changing market landscape” led Verizon to sunset the product.
Verizon bought BlueJeans at the peak of the pandemic, when widespread remote work fueled skyrocketing demand for virtual collaboration tools. That demand has since drastically waned as in-person work continues to pick up.
Video calling services are no longer in demand
BlueJeans was a huge acquisition for Verizon; when the deal was announced in April 2020, CNBC reported that Verizon was going to pay around $400 million for the company. At the time, videoconferencing companies like Zoom and BlueJeans were seeing increased usage during the pandemic, but now that many companies have implemented policies bringing workers back to the office, virtual collaboration apps aren’t quite as hot as they used to be.
Source: The Verge
