press releases
ExpoTV Announces $6 Million Series A Financing
Investment led by Masthead Venture Partners and Prism VentureWorks
NEW YORK CITY – December 19, 2006 – ExpoTV (www.ExpoTV.com), the leading video provider of consumer-generated product reviews, today announced the completion of a $6.0 million Series A round of funding, led by Masthead Venture Partners and Prism VentureWorks, and included the participation of existing investors.
“ExpoTV has built a social shopping community who speak their minds through authentic, intelligent, purpose-driven video. We look forward to growing and serving that community, as well as inviting advertisers to participate in the thousands of word-of-mouth product conversations that are already happening on ExpoTV.com,” stated Daphne Kwon, CEO of Expo Communications.
With a library of over 20,000 user-generated video product reviews, ExpoTV is the leading provider of consumer video on broadband and on television. ExpoTV syndicates its broad “Videopinion” product library to major Top 10 internet portals, including AOL, Yahoo, Google, YouTube, and selected e-commerce websites. The company also distributes the Videopinion catalog, along with original expert how-to-buy content and advertiser product video, to its television network available in over 20 million video-on-demand homes nationwide through partnerships with Comcast, Time Warner, Charter, Verizon FiOS TV, and other cable operators.
As a part of the financing, Brady Bohrmann, General Partner at Masthead Venture Partners, and Will Kohler, Principal at Prism VentureWorks, will join the company’s board of directors. “ExpoTV has uniquely enabled ‘social commerce’ by allowing consumers to share their experiences with a mass audience, but on a very personal level through video. Our investment will enable ExpoTV's team to rapidly expand their network of consumer video contributors by providing even greater interactivity and reach,” said Bohrmann.
“ExpoTV has built the largest product video library available, and has established the support of the leading distributors on television and on the internet,” said Kohler. “We are excited to be part of a company that provides a solution for marketers in the world of consumer generated media.”
About Expo Communications
Expo Communications is the first video destination featuring product information contributed by consumers, experts and manufacturers. The social shopping network is available in over 20 million television homes through partnerships with top cable operators including Comcast, Time Warner and Charter, as well as on broadband at www.ExpoTV.com. ExpoTV provides a smart, trusted environment for viewers, offers advertisers an opportunity to connect with a highly targeted consumer, and provides a turnkey commerce destination for distributors. More information about the company can be found online at www.ExpoTV.com.
About Masthead Venture Partners
Headquartered in Cambridge, Mass., Masthead Venture Partners is a venture capital firm dedicated to providing early stage information technology, internet infrastructure and services, and communications companies with the capital and hands-on operational support they need to develop into industry leaders. The firm has the advanced technical expertise, proven operating experience and deep industry knowledge and relationships to help entrepreneurs build companies with category defining potential. For more information please visit www.mvpartners.com.
About Prism VentureWorks
Founded in 1996, Prism VentureWorks (Westwood, MA, Santa Monica, CA) is a venture capital firm built by experienced entrepreneurs in technology and life sciences. With approximately $1.25 billion in capital under management across five funds, Prism’s primary goal is to deliver superior value to its investors. Its partners have served as the founders, CEOs and senior executives of numerous venture-backed companies. By leveraging its network of seasoned entrepreneurs, skilled executives and long-time industry contacts, Prism identifies and works closely with companies with the potential to be market leaders. For more information, visit http://www.prismventure.com.
Contacts:
Meagan McCrystle
RacepointGroup
415.694.6704
Jessica Cagnon
Expo TV
212-905-8958