What they're saying about Magnify
For more information see our press kit.
June 2009
In the last month, Magnify.net has taken over powering video hosting and collection tools for CarDomain’s Vidiac and Demand Media’s ChannelMe.tv service. Both sites invited users to create their own video channels, but Vidiac had been largely neglected and ChannelMe’s video hosting provider, Eyespot, went out of business.
Through the Demand deal, Magnify gains an additional revenue stream as a reseller of .tv domains. The idea is (and has been for the last couple years) that new .tv domain registrants through Demand’s eNom can add video to their sites from the get-go. And Magnify could potentially power video for Demand’s other properties if the deal works out, said Demand’s Shawn Colo, co-founder and head of M&A. Existing ChannelMe.tv subscribers accounts will be shut down on July 1. While basic Magnify service is free, some features and support are paid.
Magnify will also share revenue with CarDomain for any Vidiac customers it picks up in the next few weeks; the domain itself will be shut down at the end of the month, said CarDomain CEO Glenn Rogers. Vidiac was a would-be YouTube that fell by the wayside when it started taking down copyrighted content early on, he said. The product was later pushed as a “create your own video site” tool, but its founders’ other project, StreetFire, was far more successful and eventually merged with CarDomain. Meanwhile, Vidiac has been operating at a loss of $100,000 per year, mostly in hosting fees.
While the deals aren’t huge wins, they do show strength for Magnify, which unlike many video startups has maintained a focus on one thing since the beginning: video curation. Its competition in that space includes Vodpod, Yubby, Fliggo [MORE »]
Through the Demand deal, Magnify gains an additional revenue stream as a reseller of .tv domains. The idea is (and has been for the last couple years) that new .tv domain registrants through Demand’s eNom can add video to their sites from the get-go. And Magnify could potentially power video for Demand’s other properties if the deal works out, said Demand’s Shawn Colo, co-founder and head of M&A. Existing ChannelMe.tv subscribers accounts will be shut down on July 1. While basic Magnify service is free, some features and support are paid.
Magnify will also share revenue with CarDomain for any Vidiac customers it picks up in the next few weeks; the domain itself will be shut down at the end of the month, said CarDomain CEO Glenn Rogers. Vidiac was a would-be YouTube that fell by the wayside when it started taking down copyrighted content early on, he said. The product was later pushed as a “create your own video site” tool, but its founders’ other project, StreetFire, was far more successful and eventually merged with CarDomain. Meanwhile, Vidiac has been operating at a loss of $100,000 per year, mostly in hosting fees.
While the deals aren’t huge wins, they do show strength for Magnify, which unlike many video startups has maintained a focus on one thing since the beginning: video curation. Its competition in that space includes Vodpod, Yubby, Fliggo [MORE »]
Video publishing and curation firm Magnify.net is expanding even further, with the news today that it has taken over the video-share site Vidiac.com.
Magnify acquired the rights to the Vidiac domain from CarDomain Network Inc., and will take over hosting and delivery for any Vidiac channels that are currently on the site.
As part of the deal, Magnify has entered into a revenue share agreement with CarDomain Network for any Vidiac users that sign up for Magnify's service through the Vidiac affiliate link.
According to CarDomain CEO Glenn Rogers, the decision to give up on the video-share site came after many years of operating primarily as a vertical online video channel for car enthusiasts.
"Vidiac hasn't been a large part of our business for a number of years," Rogers says. "We maintained the platform at a very low level for a number of years, but it wasn't something we wanted to focus on going forward."
The deal comes about as Magnify increases its efforts to grow through white labeling and co-branding its platform. Last month, the company struck a deal with Demand Media Inc. that named Magnify.net as the preferred platform for ChannelMe.tv users to transition to after Demand ceased offering video hosting services. [MORE »]
Magnify acquired the rights to the Vidiac domain from CarDomain Network Inc., and will take over hosting and delivery for any Vidiac channels that are currently on the site.
As part of the deal, Magnify has entered into a revenue share agreement with CarDomain Network for any Vidiac users that sign up for Magnify's service through the Vidiac affiliate link.
According to CarDomain CEO Glenn Rogers, the decision to give up on the video-share site came after many years of operating primarily as a vertical online video channel for car enthusiasts.
"Vidiac hasn't been a large part of our business for a number of years," Rogers says. "We maintained the platform at a very low level for a number of years, but it wasn't something we wanted to focus on going forward."
The deal comes about as Magnify increases its efforts to grow through white labeling and co-branding its platform. Last month, the company struck a deal with Demand Media Inc. that named Magnify.net as the preferred platform for ChannelMe.tv users to transition to after Demand ceased offering video hosting services. [MORE »]
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