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BizReport : Advertising : February 13, 2008
Yahoo buys leading online video platform
In the midst of Microsoft's buy-out bid, Yahoo has today announced their acquisition of a leading online video platform enabling them to offer enhanced video and online advertising experiences.
Maven Networks, a competitor of other high-end online video platforms such as Brightcove, has been purchased by Yahoo. All 70 of Maven’s personnel will be kept on by Yahoo in the $160 million deal.
Yahoo’s press release made it clear that they intend to expand on Maven’s offering by incorporating video monetization services that will allow publishers to take advantage of Yahoo’s salesforce and advanced ad delivery technologies.
Maven’s online video ad technology is already used by many major media companies such as Sony BMG, Fox News, CBS Sports and the Financial Times.
“Video is projected to be the fastest growing segment of the online ad market, and Maven will significantly help advance Yahoo!’s strategy, expanding the video opportunity for publishers and increasing the efficiency and effectiveness for advertisers. This is a big win for publishers, advertisers, consumers and for Yahoo!,” said Hilary Schneider, EVP, Global Partner Solutions at Yahoo, in a press release.
In December, 2007, over 10 billion videos were watched online in the U.S., the most ever recorded.
Tags: online advertising, online video, video advertising, Yahoo
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