Press Releases
Move Networks Closes $11.3 Million In First Round VC Funding
Hummer Winblad, Steamboat Ventures see Move Networks as the future of online video distribution; As Do Customers Such as Fox Networks, E! Online, CW and Televisa
Salt Lake City, UT — February 7, 2007
Move Networks (www.movenetworks.com), the leader in providing continuous long form video via the Internet, announced that it has secured $11.3 million in its first round of external venture capital financing. This funding round, co-led by Hummer Winblad Venture Partners and Steamboat Ventures, closed in December. This latest investment will be used to expand Move's customer base and develop new functionality for the Move Networks server and clients. Move Networks clients already include Fox Networks, E! Online's GlamCam, the new CW Network and Televisa, the largest media company in the Spanish speaking world.
"Until now, there has been no way to scale quality long form video distribution over the Internet for millions of users at once - this has prevented major networks from building large, viable revenue streams online," said Doug Hickey, Partner at Hummer Winblad. "Move's traction in this space is a direct result of technology that is completely changing the way people consume, and producers deliver, long form video content over the Internet."
Move Networks provides services that transform both the process of making video available online as well as the experience of watching videos.
Move Adaptive Stream - Innovative Video Delivery
The process of encoding video for multiple bandwidths and target platforms is managed through a single process called "Simulcoding." This revolutionary process leverages hardware clustering and software pipelining to prepare video for on-demand or "live" distribution. Once available, the video can be delivered as an adaptive stream that "upshifts" and "downshifts" to match the current constraints of the computer's environment without pausing or buffering. The Move Media transmission system can scale to millions of users because of the efficient use of existing Internet caches and related technologies. Move also provides its own Digital Right Management system; and complete editing and publishing control for maximum viral effect.
Move Publish – Scheduling, Editing, and Playout Control
Move Publish includes a suite of publishing tools for purposing and publishing content online. Live videos can quickly be placed by the publisher in on-demand libraries without any modification or physical editing of the media. The same is true with creating clips or re-sequencing video. Broadcast shows can even be pre-empted and replaced by alternative programming.
Move Media Player - Viewer Controls for Video Through Move Media Player, video publishers provide their viewers with DVD player-like controls, and "TiVo™" style navigation. Video is higher quality than the video delivered through traditional video delivery platform and doesn't stall or buffer. Those viewing the content control an immersive video experience.
Move Monetize - Detailed Viewing Statistics for Business Decisions
Content publishers can view detailed statistics including geographic distribution of viewers, when viewing occurs, and the nature of the viewing experience. For the first time, advertisers and publishers can receive detailed statistics that go far beyond how many times their shows and commercials are viewed and by how many individuals. Some of these statistics include how much content is viewed, at which bit rates viewing occurs, how often the viewers navigate within the streamed content, the geographic location of viewers, and viewing by time of day.
Move Networks asserts that their technology turns online video from an interesting marketing experiment to a solid business platform and revenue center.
"We have the right team in place developing this game-changing technology," said John Edwards, CEO of Move Networks. "With our new partners, Move Networks is primed to become the de-facto publishing partner for long form continuous play video distributed on the Internet. Our goal is to usher in a new era where long-form, high quality content combines prime time broadcast CPMs and Internet per click, per stream analytics."
About Hummer Winblad
Hummer Winblad Venture Partners was founded in 1989 as the first venture capital fund to invest exclusively in software companies. Through our history, we've had the opportunity to invest in the pioneers and leaders of several generations of software applications, architectures, delivery methods and business models. We've helped entrepreneurs build companies in desktop software, embedded systems, client-server, distributed network computing, internet, and software as a service. Our earliest portfolio companies started shipping software on floppy disks and today we're investors in pioneering companies in on-demand computing. We've seen everything from shrink-wrap licenses to enterprise-wide "big deals" to subscription pricing; from direct sales to highly-leveraged channel strategies. In other words, because software is all we do, we bring tremendous value to highly talented people who want to build great software companies. We hope our website tells you a lot about us, but please feel free to contact any of us directly.
About Steamboat
Our mission at Steamboat Ventures is to help young companies successfully face the challenges of becoming leaders in their markets. We invest in early to mid-stage, technology-focused companies that are pursuing opportunities in emerging media and entertainment markets. Although the fund is primarily focused on technology investments, we also consider venture investments in other areas of broad strategic importance to the Walt Disney Company.
About Move Networks
Move Networks, Inc. is a leading provider of video services that drive the growth and support of online audiences for leading broadcasters and publishers. The video technologies and services developed and managed by Move Networks enable leading brands to deliver live and on-demand programming to millions of people without the buffering, stalling, and low-quality viewing experiences common with competing technologies. Backed by key investors, including Walt Disney Corporation's Steamboat Ventures, LLC (NYSE: DIS) and Hummer Winblad Venture Partners, Move Networks, Inc. is a private company.
Contact Bret Clement Page One PR 303-462-3057 bret@pageonepr.com