Tuesday, November 22, 2005

Brightcove gets funding

From the press release today: America Online, IAC, Hearst Corp., and Allen & Company Lead $16 Million Investment in Brightcove. More from the release, "Brightcove, an Internet TV pioneer, today announced the completion of a major strategic financing round, a groundbreaking video content distribution partnership with AOL, and the appointment of Barry Diller, Chairman and CEO of IAC/InterActiveCorp and Chairman of Expedia, Inc., to the Brightcove Board of Directors."

Internet video and mobile video is really coming of age this year. While 16m is not that much money the deal is very significant when you look at the players involved. ""America Online's partnership and investment with Brightcove builds on AOL's existing, industry-leading video offering," said Jonathan F. Miller, Chairman & CEO of America Online, Inc."

Big Don Dodge focuses (like all VCs) on the key player behind Brightcove, Jeremy Allaire. "Brightcove is a BIG idea from a guy who has proven he can execute."

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