Joost

With hit web properties Skype and Kazaa behind them, Scandinavian entrepreneurs Janus Friis and Niklas Zennstrom are backing an online video startup - called Joost - that will target "TV-like audiences on the Web," reports WSJ.com.

The free offering combines elements of traditional TV, such as channels that users can customize and flip between, with web functions such as chatting between users and keyword search for programs to be watched on demand. Instead of low-quality video clips uploaded by users, Joost will offer commercial content - TV shows and movies - with better, full-screen image quality. However, the venture has yet to attract a major content deal.

The service will be financed by advertising, with revenue to be shared with the video-content owners, and it won't let consumers submit clips until quality and copyright issues are resolved. Joost says advertisers will be able to target their ads, which combine full-screen video commercials with interactive features, based on users' video-viewing habits and other data, such as the user's location.

Wrigley Co., Deutsche Telekom AG's T-Mobile USAm and L'Oreal SA's Maybelline brand are among those participating in the current test.