Revver Launch: Press Release (Oct. 31, 2005)
Here's the press release from Revver upon launch:
Revver Announces Company Launch: Company Expected to Redefine the Business of Online Video Distribution, Advertising; Breakthrough Effort to Empower Online Video Creators Attracts Skype Investors, Creative Commons Support
LOS ANGELES --(Business Wire)-- Oct. 31, 2005 -- Revver, the original revenue engine for online video, announced today the launch of its proprietary RevTag(TM) system that -- for the first time ever -- allows online viral video creators to get paid for their work. The company is introducing a new business model that embraces online viral distribution of videos by bringing together advertisers with video creators through the automated RevTag system, which embeds trackable advertising sponsorships at the end of each video. Revver directly pays creators based on the number of views of the video and the performance of the ad. RevTags introduce an exciting new way for advertisers to support creators and directly connect to highly decentralized target audiences.
"We've all been entertained by great video clips online, but the creators haven't seen a dime. Revver will change that," said Steven Starr, the Founder and CEO of Revver. "Until now, video creators have either kept their video offline -- which drastically limits their audience -- or placed their video online for free, which clearly isn't sustainable. Revver solves this dilemma by embracing the open flow of the Internet, rather than trying to fight it. We're proving that video can be made freely available online and the creator can still be rewarded."
Through its proprietary RevTag System, Revver lets video makers distribute their work across every online platform, track how often their videos are watched and, for the first time ever, no matter where it travels on the Web, generate revenue in proportion to the viral popularity of their video. As the landscape continues to shift and advertisers seek new ways to reach target audiences, Revver's system affords a unique new way to reach potential customers that has never before been possible.
"What Steven and the Revver team are doing greatly empowers creators -- enabling them to sustain their creativity in a way that hasn't existed before," said Lawrence Lessig, CEO & Chairman of the Board of Creative Commons. "It's most impressive: the company has built technology that spreads content cheaply, while rewarding creators for the distribution. We see this as a breakthrough for all of us."
Revver Management Team and Investors
Starr and co-founders Ian Clarke and Oliver Luckett will assume management roles within the company -- as CEO/President, Chief Technology Officer and Senior Vice President of Network Development, respectively. The company has secured Series A Funding from Bessemer Venture Partners, Draper Fisher Jurvetson and Draper Richards. The company will use the funds to build the team, technology, infrastructure and partnerships.
Revver is the first company these venture firms have collectively funded since Skype Technologies S.A., the Global P2P Telephony Company that offers consumers the ability to make free voice calls using their broadband connections.
"The explosion of self-published, popular content downloaded via emails from friends and colleagues, instant messages or discovered on various Web site or P2P networks, presents a massive market opportunity -- an entirely new category of low-cost content waiting to be monetized," said Starr. "Revver is prepared to address that opportunity."
Revver strives to become the trusted and transparent service for distributing, promoting and tracking online video by embracing the open flow of the Internet. Revver connects video-makers, viewers and advertisers in a lively sponsorship marketplace for online video. By appending videos with brief, unobtrusive ads, Revver's RevTag(TM) System lets video-makers distribute their work, track how many times their videos are watched and earn money based on the popularity of their content and how often it is viewed. Once a video is created and uploaded, Revver connects advertisers to specific demographics through tag-based keyword targeting and a unique collaborative learning algorithm, which maximizes ad performance. For more information, please visit the company's Web site at www.revver.com.
About Creative Commons
Creative Commons is a nonprofit organization that offers creators free legal and technical tools to license their work on more flexible terms than traditional copyright rules typically allow. Creative Commons was officially launched in 2002. Creative Commons licenses cover all creative content such as art, music and writing but is not designed for software. A Creative Commons license allows creators to place some conditions on their copyrights in accordance with their preferences. Copyright restricts others from copying, modifying or distributing copyright-protected works. Creative Commons licenses offer flexibility by giving the creator (copyright holder) the ability to choose what limitations they want in place on their work and what types of copying, modifications and distributions they wish to allow. For more information, visit www.creativecommons.org.