Rabb.it also known as Rabbit is a video streaming platform. It is a US-based platform that was launched in 2014. It performs on the website and application both. You can watch videos of various platforms with your friends and relatives. A person will create a room either private or public and the other people can join the room and can experience all the things which a host is streaming. The people can also chat there with random people and can also do voice calls. Rabbit is not only a video streaming platform, here you can make a lot of friends and can talk with random people.
You can send photos, messages, and voice calls to each other. Your internet speed should be more than 10 Mbps to enjoy the stream without any buffering. This platform has almost 3.6 million views per month. The average user spends 12.5 hours in a month on Rabbit and the most active user spends 28.5 hours in a month.
What happened to the Rabb.it website?
As we have seen, Rabbit was receiving a good amount of active users on their platform and 30 employees were working in the company till May 2019 then why this company was shut down. This is a very common question asked on the Internet. So the main reason is that there is no revenue model planned to run the company. We know that no business can run without income. The company. Rabbit didn’t get the investors for their platform and a versatile business requires a huge amount of capital to perform the operations.
After not getting any investors, they plan to start charges for their services but again a negative response. People have loved their app but don’t want to pay for this service. Anyways, there are many websites like Rabbit tv available where you can watch videos.
Then they planned to go with advertisers but the creators thought that Rabbit is stealing content from other platforms and they didn’t want to advertise their service where the content steals. Rabbit tries to convince them that they are not stealing content, although they have a business model but the investors have not shown interest.
At last, the CEO of Rabbit Amanda Richardson announced that they are facing issues in raising the funds and we are not able to provide you more services. The Rabbit had started to lay off their employees and started to shut down Rabbit forever. Finally, on 31st July 2019, Amanda had shut down his company and given all of his assets like software, property, and patents to another streaming service provider Kast.
So this was the story of Rabbit and the reason also about why they had shut down their company. Eventually, it was a tough decision for them but no business can run without any profits. Every business needs proper planning and revenue models for the foreseeable future.