PWInsider.com is reporting that pro wrestling streaming service Floslam has officially been shut down by Flosports effective today, and that all staff involved with the service have been laid off.

Floslam was initially launched back in 2016 and "was designed to be a major streaming subscription content hub" with the hope of signing deals with some of the top independent organizations and being able to essentially place them under one roof in terms of streaming events.

An announcement was made back in August of 2016 that Flosports "had received $21.2 million in new funding to accelerate the online sports network's growth into new sports and expand into existing verticals" from many investors including WWE. Despite this, the idea of building this type of service apparently didn't click with a lot of people.

Flosports was also unable to obtain deals with companies such as Ring of Honor, New Japan Pro Wrestling, Pro Wrestling Guerrilla, and and major lucha libre promotions. Instead, a seven-figure deal with WWNLive was made, which led to WWN producing a total of five live events every month for Floslam. Despite the agreement being made for five years, the relationship ended after only a year after Flosports filed a lawsuit alleging that WWN misled them on how many iPPV buys that the company was actually doing on their own streaming service, which, in turn, led to WWN being overpaid for their own content. Once the lawsuit against WWNLive was filed, Floslam made all of their WWN content free for everyone to view, and all of the upcoming live event streaming content was canceled. Over the past few weeks, Floslam acted as more of a website that featured news, podcasts, and various columns.