Yahoo Confirms Acquisition Of Video Platform Maven; Price Tag: $160 Million - paidContent.org
Life goes on at Yahoo: the company has confirmed its previously rumored acquisition of online video platform Maven Networks, although the price tag of “approximately” $160 million is a bit higher than the previous $150 million estimate. The reports first surfaced on New TeeVee and TechCrunch on Jan. 31, the night before Microsoft (NSDQ: MSFT) launched its bid for Yahoo (NSDQ: YHOO). It’s not clear if the delay, however, between the initial reports and the official announcement had anything to do with the bigger issues facing the company. Cambridge, MA-based Maven offers a platform for high-res video hosting and distribution, as well as a system for video advertising. Release.
– Maven, which has raised $30 million, has relationships with a number of major content providers, including Fox News, Sony BMG, and “CBS” Sports. Backers include Prism Ventures, Accel Partners and General Catalyst. By comparison, Brightcove, whose CEO Jeremy Allaire was the EIR at General catalyst when the firm invested in Maven, has raised $80 million, since its launch in 2004.
– The company, now a wholly-owned subsidiary of Yahoo, will remain in Cambridge but becomes part of Hilary Schneider’s Global Partner Solutions group.Yahoo says it plans to invest in the growth of Maven’s overall video business and to expand Maven’s suite with “video monetization services” and “advanced technologies for delivering consumers more relevant advertising experiences.”
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