Meerkat is switching from live video streaming to video social network after facing intense competition from the likes of Facebook and Twitter.<br />Ben Rubin, the CEO of Meerkat, confirmed the turn of events in a company blog.<br />Rubin says that Meerkat users are not just livestreaming in the numbers the company initially expected.<br />Moreover, people who are livestreaming are choosing other networks such as Facebook Live and Periscope.<br />Meerkat has raised about $12 million of funds from investors; however, 75 percent of the entire money is still available in the company.<br />Rubin did not disclose the app's future plans but he hinted that the company will focus on interactions between smaller groups such as people who know each other.
