It looks like the Intel Capital funded Verismo Networks is shutting down its global multi-platform consumer entertainment service Mela, which focused on South Asian content. The company has put up a note on Mela's website stating that it will be shutting down the Mela Movies service on September 15, 2012. The company also notes that monthly subscribers of Mela will be able to access the service through the end of their subscription period while it will be refunding a pro-rated amount to the annual subscribers for the unused part of the subscription period. We were also not able to locate Mela apps in Google Play and iTunes App Store. We assume this was inevitable after Sab Kanaujia had stepped down as the President, Entertainment Services, Verismo Networks and GM, Mela in May 2012. Kanaujia had stated that he was stepping down due to a difference in opinion with Prakash Bhalerao, the CEO of Verismo Networks on the strategy and the direction in which Mela was headed. At that time, Kanaujia had also stated that he had submitted a proposal to the Verismo board to spin Mela out from Verismo as an independent entity controlled by the management team, and was currently in discussion with the board. However, it looks like the proposal didn't go through. Kanaujia had also stated that if he doesn't reach on an agreement with the Verismo board, he will open a new South Asian content focused company, for which he claimed, he was already in talks with a few potential strategic partners. Timeline of Verismo Initiatives…
