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Joost Tabs Former Cisco Star Volpi CEO

Web video startup Joost already has a new chief to run the show.

Former Cisco Systems  executive Mike Volpi today succeeded Joost founding CEO Fredrik de Wahl, who will become Joost's chief strategy officer, according to a company statement.

Volpi takes over full operational responsibility for the company, which launched May 1, effective immediately.

Mike Volpi
Mike Volpi

"Mike is the dream choice for this role," said Joost co-founder and executive co-chairman Janus Friis, who noted that ke got to know Volpi when he was on the board of Skype, which Friis also co-founded.

"Mike's leadership abilities in combination with his vision and technological expertise are unsurpassed and will serve as a powerful driving force in the realization of the company's vision."

Volpi left Cisco earlier this year after spending 13 years in a variety of strategic management roles. Volpi, once tabbed as a possible successor to Cisco CEO John Chambers, most recently managed Cisco's Routing and Service Provider Technology Group.

Joost credits Volpi for pioneering Cisco's mergers and acquisitions process and acquiring more than 70 companies during his time there.

Volpi spoke glowingly of his new digs in the statement.

"Fredrik and the Joost team have built a world-class ensemble of talent and created a company and a product with the potential to change the way video is enjoyed around the world," Volpi said in a statement.

Volpi's enthusiasm is warranted if Joost's recent successes in acquiring content, venture capital and advertising partners are any indication of its market momentum versus opponents such as Google's YouTube property.

Joost isn't the only Web video property garnering optimism. Blip.tv, a video site which focuses on independently produced shows, today announced the closing of its series B financing and its first venture capital investors.

The round was led by Ambient Sound Investments (ASI), the venture capital fund established by the four founding engineers of Skype.