"By joining forces with CNN, we're able to give our mission more than just one, startup-budgeted shot," Beme CTO and co-founder Matt Hackett wrote in a blog post. "We are going to hunker down and create something new. To do that with the full focus it deserves, we have to say goodbye to Beme."

Beme started out as a Snapchat competitor with a unique hook: Instead of holding your phone up to take videos, you just need it to your chest. The app would then shoot a four-second video clip and upload it to your followers, without any fiddling on your part. It was an attempt to make video sharing even easier than Snapchat, but Beme failed to find much traction beyond Neistat's faithful followers. While it's unclear what Neistat's CNN project would be, I wouldn't be surprised to see his team working on an app for the network's iReport citizen journalism initiative.