Streem accepts “defeat” – closes breaking news platform today

By on

streemStreem, Australia’s own version of Newsvine (a place where contributors submit news on a rolling breaking news site), has decided to admit its defeat and will shut down its stores today (Friday 28th November). Users who contributed to the site will only have today and tomorrow to claim their unpaid monies for their contributions, if they have $10 in that account.

“We believed honestly in what we were doing and thought truly that an independent, competitive and up-to-the-minute choice was something lacking in the Australian market,” founder Edgar Welch said in a posting on the site. It should be noted that he started the company when he was 19, and now is 21.

We accept our defeat, graciously, but leave emphasising a message of choice, independence and Australian ownership.

I’d like to thank every last person who gave us the time, support and even criticism that kept us on our feet. From our financial backers to those who worked to grow the company, the publications that gave us a free plug, the individuals who read Streem each day and our friends and close family.

We are immensely proud of achieving what many would never attempt, and coming as far as many doubted we could. We feel we’ve pushed the boundaries of the industry, and while Streem will be just a blip on the radar, it’s concept and outcome serve as a sign of things to come.

We took the risk. We accept this defeat. But, we’ll always fight.

So we bid adieu to Streem, and say hello who tries to make a similar, Australian attempt at this.