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It was going to revolutionize cable television advertising; now it's been relegated to video-on-demand and TV Everywhere.
Canoe, a joint venture among the six largest cable companies in the country (Time Warner, Comcast, Cox, Charter, Cablevision and Bright House), began in 2008 with a mission to develop interactive TV ads that would give viewers the chance to get bonuses like product samples and coupons by pushing a few buttons on the remote.
The idea didn't go over at all with advertisers, however, and now Canoe is laying off 120 employees—including its CEO Kathy Timko, who's been in the job on an interim basis since July.
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