Veoh Networks Receives Series A Funding to Support First Internet Television Peercasting Network Launch
August 10, 2005
- Shelter Capital Partners invests in new Internet service that redefines TV by allowing anyone to broadcast full-screen, television-quality video -
LA JOLLA, Calif. August 10, 2005 - Veoh Networks, Inc., the first Internet Television Peercasting Network, today announced it has completed a Series A round of financing led by Shelter Capital Partners. The introduction of Veoh Networks (www.veoh.com) creates a new category of television networks that take advantage of existing broadband infrastructure to deliver TV-grade, full-screen video programming directly from producers to consumers.
Veoh Networks was founded in 2004 by Dmitry Shapiro, a technologist best known for creating the world¡¦s leading P2P security software that manages more than one million enterprise users, regulating applications such as BitTorrent and Grokster. Veoh's management and advisory team also includes executives from Coca-Cola, Columbia Pictures, eBay, Gateway Computer and Musicmatch.
"Today, thousands of video producers are creating innovative, entertaining, informative and provocative television content that is never slotted for broadcast over traditional television networks,¡¨ said Shapiro, also Veoh's CEO. Veoh provides an open system that allows producers to distribute their content directly to consumers, bypassing the traditional hurdles of getting "picked up" by a major television network.¨
Veoh software, installed on consumers' PCs or Macs, creates a virtual television network that is able to distribute TV-quality, full-screen broadcast video to hundreds of millions of users with broadband Internet connections. Motion picture studios, television networks, organizations and individuals can publish unlimited amounts of broadcast video content to the network, providing consumers with unparalleled choice in television programming and control over their viewing experience.
Veoh utilizes a proprietary, secure P2P network that helps prevent piracy of content, and makes sure all video content is properly categorized, of TV-grade quality and always available. Unlike rogue P2P networks that utilize unmanaged BitTorrent to share mostly pirated video, Veoh is a community of publishers and consumers, where published content is approved by editors, and consumers are assured that they get what they request. The system also integrates tightly with Google Video and RSS, providing content producers with easy publishing to multiple video systems.
We are excited about Veoh's plans to create a marketplace for video content producers to distribute their work, much like eBay established a marketplace for individuals and stores to sell their wares,¨ said Art Bilger, managing partner at Shelter Capital Partners. There is a growing market opportunity for such a service, and the Veoh team is uniquely qualified to deliver on such a grand vision.¨
A beta version of Veoh's software and service will be available later this month. Content producers and consumers are encouraged to visit www.veoh.com to sign up for notification upon launch.
About Veoh Networks, Inc.
San Diego-based Veoh Networks is the first Internet Television Peercasting Network, reaching hundreds of millions of viewers with broadband Internet connections throughout the world. Veoh allows content producers, from video bloggers (vloggers) to motion picture studios, to deliver TV-grade, full-screen video directly to consumers, without financial, geographical or regulatory restrictions found in traditional broadcasting systems. Veoh is privately held and venture-capital funded.