|[February 08, 2012]
OVGuide Acquires Live Matrix, Sanjay Reddy Appointed CEO
LOS ANGELES --(Business Wire)--
the most comprehensive and up-to-date guide to online video, today
announced the acquisition of Live
Matrix, the first guide to live and scheduled events on the Web. As
part of the deal, OVGuide named Live Matrix co-founder and CEO Sanjay
Reddy its new CEO. The combined offering creates the definitive online
guide to on-demand and scheduled video content.
Sanjay Reddy Named as CEO of Los Angeles-based OVGuide (Photo: Business Wire)
The acquisition and appointment of Reddy heralds an exciting new
direction for OVGuide, which helps users find the very best video
content on the Web, including free movies, TV shows, anime, sports,
celebrity and viral videos, at no charge. OVGuide will now provide
guidance during the entire life cycle of an online video - when the
video is upcoming, live and on-demand. This is a unique proposition for
users, publishers and advertisers in a world of increasing online video
content availability and consumption.
Live Matrix will continue operation as a stand-alone site focused on
live, scheduled events, including video and audio webcasts, live chats,
limited-time sales, conferences, product launches, games and contests,
Apart from cross-linking contextually relevant scheduled and on-demand
results on OVGuide.com
the two companies will soon integrate their databases and deliver a
unified offering that covers upcoming, live and on-demand content
available through syndication across third party sites and connected
Reddy succeeds Peter Lee as CEO of OVGuide. Lee will remain on the board
and resume his full time responsibilities as a partner at Baroda
Ventures, the venture capital firm that is the primary investor in
OVGuide. Terms of the all-stock deal wer not disclosed.
Baroda Ventures founder and OVGuide chairman David Bohnett believes
Reddy has the experience and foresight to build on the success of
"Sanjay Reddy is a visionary, and a veteran of new media -- a creative
thinker and proven leader who will help OVGuide expand its digital
footprint in the video entertainment world and grow its already
formidable user base," said Bohnett. "We're on the verge of a revolution
in online video content. Even as consumption continues to grow rapidly,
consumers are often unaware of sources and availability of content.
Publishers can't reach audiences fragmented by time and platform, and
advertisers can't properly leverage the Web to reach audiences with
contextually relevant messages in a timely manner. This acquisition puts
Sanjay Reddy and OVGuide in the best position to deliver the solution we
OVGuide, created in 2006, continues to be an innovator in video content
search and discovery on the Web. It is currently the leader in traffic
among independent video sites, enjoying more than 12 million monthly
unique visitors, and over 20 million searches per month.
Publicly launched in Sept. 2010, Live Matrix is the first comprehensive
online guide for all scheduled events on the Web, with over 4 million
events tracked across over 400 channels and indexes, with average of
300,000 events weekly. Live Matrix was the winner of the Most Promising
Media Concept award presented by NBC's Peacock Equity Fund at the 2010
TechCrunch Disrupt Conference in New York City.
"The fit here is unique, and represents a great opportunity for us all,"
Reddy said. "Starting with founder Dale Bock, and subsequent CEO Peter
Lee, the entire OVGuide team has created the largest independent online
video guidance portal and the most comprehensive database with over 60
million video results. We are seeing geometric growth in online video
production, and wide availability across multiple distribution
platforms. This makes the need for video guidance and discovery
paramount. We are well positioned to be everyone's go-to-source for
online video content, whether it's live, on-demand, or scheduled for the
future. I look forward to working with the team to combine the audience,
data and distribution platforms of OVGuide and Live Matrix and create a
valuable service for users, content publishers and advertisers alike."
Prior to co-founding Live Matrix with serial entrepreneur Nova Spivack,
Reddy was the head of business development, strategy and M&A for
Gemstar-TV Guide International, where he oversaw the public auction
process that resulted in Gemstar's sale to Macrovision in 2008 for $2.8
Reddy joined Gemstar-TV Guide in 2004 with broad media and technology
experience, having previously served as a vice president in the M&A
group at Salomon Smith Barney in New York; vice president of corporate
development for Covad (News - Alert) Communications, a publicly traded DSL company
based in Silicon Valley; and a principal in startups in the animation
and music industries.
Reddy is a digital media expert who has advised a range of new media
companies including My Damn Channel, Pixsy, TVersity and BuddyTV. He
also has served as a member of the Academy of Television Arts & Sciences
National Primetime Emmy Awards Committee and on its Interactive Media
Peer Group's executive committee. Reddy earned a bachelor's degree from
Cornell University and an MBA from UCLA.
OVGuide is the Web's most comprehensive and up-to-date guide to online
video. Headquartered in Los Angeles, the privately-held company is
backed by Baroda Ventures, whose founder David Bohnett was also the
founder of GeoCities, which went public in 1998 and was acquired by
Yahoo! Inc. in 1999.
OVGuide categorizes and organizes online video content from over 6,000
sources, facilitating the user discovery of, and guidance to, both short
and long form videos via a comprehensive database and proprietary search
engine. Users can search for specific video content within a category
such as Movies or TV, or across all categories. OVGuide categorizes and
organizes more than online destinations, offering both short- and
long-form videos integrated into a directory and search engine that
facilitates user discovery and guidance of online videos from over 6,000
sources. Users can search for specific video content within a category
or across all categories. Content discovery features include editor's
pick videos, content browsing tools, movie/TV browse tools and listings
of real-time keyword searches. The site receives more than 12 million
unique visitors per month.
To learn more, visit http://www.ovguide.com
About Live Matrix
Livematrix.com is a full content calendar for live and scheduled events
on the Web. It was the first guide to link users to any online event
that has a start time and can be attended online: audio and video
webcasts, live chats, limited-time sales and auctions, conferences,
product launches, games and contests, events in virtual worlds and more.
Live Matrix enables the "Scheduled Web." Like what TV Guide does for
television audiences, Live Matrix ensures that consumers never miss
their favorite online programming.
To learn more, visit: http://www.livematrix.com
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50161202&lang=en
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