In November 2005, Internet video syndication and platform service operator Brightcove closed a $16.2m Series B Financing round. Interactive Corp, which counts Ticketmaster, Citysearch and Ask among its properties was one of the lead investors. As part of the transaction, IAC’s CEO Barry Diller joined the board of directors. Now a few years have passed and the companies have decided to get more involved with each other.
Under a deal announced today, Brightcove will provide tools for publishing video content to web, managing video syndication and integrating advertising too all IAC businesses. Financial terms were not disclosed.
IAC’s network of online properties ranks as the 8th largest in the world (comScore, October 2007) with over 171 million unique monthly users worldwide. They’ll join Brightcove’s already extensive client list.
The new deal follows in line with Brightcove’s past stated strategy to focus on developing their platform and distribution services.
Jeremy Allaire, Chairman and CEO of Brightcove said the company is "extremely excited to have been chosen to help IAC’s businesses transform their online properties into rich Internet TV destinations." Barry Diller shared the praise in a similar stock soundbyte statement saying "Brightcove is in tune with the new content consumers want and has been able to recognize the need for effective video distribution in a world where computer screens are replacing television screens."
Since launching commercially springtime 2006, Brightcove has successfully signed a wide range of TV and publishing partnerships. Clients include the New York Times, Discovery Communications, Sony BMG, Time Inc., The Washington Post, Nielsen Business Media (The Hollywood Reporter) and Hachette Filipacchi.
Numerous TV and cable companies also use Brightcove as an alternative non-exclusive distribution outlet for their web video offerings. Fox, Showtime and CBS are among such partners.
Last January Brightcove closed a substantial $59.5m Series C Financing.