Tuesday, November 22, 2005
BrightCove investors
WSJ.com - Diller's IAC, AOL to Invest In Web-TV Company: "Some of the biggest names in the Internet business, including Time Warner Inc.'s America Online and IAC/InterActiveCorp, are lining up behind Brightcove, a start-up firm that is developing technology that could accelerate the growth of television on the Internet.
Barry Diller, IAC's chairman, is joining the Brightcove board as part of a $16.2 million round of funding announced today. Other participants in the funding group include Hearst Corp. and Allen & Co LLC, an investment-banking firm that specializes in media investments. AOL, which is making Internet TV a priority, is leading the investment group and is the largest investor.
Brightcove, which sells Web services to owners of movies, TV programs and other video content, is trying to stake out a commanding position in the changes taking place in how Americans consume media. Brightcove's tools give owners of movies, TV programs and other videos a way to sell their content directly to consumers on the Internet without going through cable, satellite or phone companies. By adding to the quantity and quality of video on the Web, company executives believe they will increase the importance of the Internet as a source of TV."
Barry Diller, IAC's chairman, is joining the Brightcove board as part of a $16.2 million round of funding announced today. Other participants in the funding group include Hearst Corp. and Allen & Co LLC, an investment-banking firm that specializes in media investments. AOL, which is making Internet TV a priority, is leading the investment group and is the largest investor.
Brightcove, which sells Web services to owners of movies, TV programs and other video content, is trying to stake out a commanding position in the changes taking place in how Americans consume media. Brightcove's tools give owners of movies, TV programs and other videos a way to sell their content directly to consumers on the Internet without going through cable, satellite or phone companies. By adding to the quantity and quality of video on the Web, company executives believe they will increase the importance of the Internet as a source of TV."
