MOVIECOM.TV, the video social network has now launched its self-service platform.
Said a spokesperson: “Within just ten days of going live, Moviecom.tv had more than 12,000 users, making it one of the fastest growing video technology start-ups ever.
“Described as ‘YouTube for business’ by users, the platform had more than 1,200 companies – including FTSE 100 organisations – using it in public beta.”
Co-founder, Gillian O’Neil, said: “Every bit of energy and passion we had has been put into creating and launching Moviecom.tv.
“The take-up has been incredible, but now our objectives are growth, scale and commercialisation.
“We have a very ambitious vision to be recognised as the leading video social network for the business community; what LinkedIn is to Facebook, then Moviecom.tv will be to YouTube.”
The company plan for the next 12 months will involve reaching out to American markets with dual purposes, firstly to enhance the brand recognition to educate business audiences on the potential of Moviecom.tv for them, and to further enhance and develop the technology, based on overseas behaviours.
Valued at £3m at launch, the company is scaling and aiming for significant growth within 24 months.
Stephen Whitelaw, CEO, formerly of Buchanan International and Actis Technology, has a proven record of managing and growing businesses in the fast moving technology sector.
He said: ”Our private beta test phase has demonstrated the unlimited growth potential of Moviecom.tv. There is a massive opportunity firstly in the UK and then across Europe and the US.
“Thousands of sign ups from small to medium-size businesses all the way through to FTSE 100 companies reinforces the strength of the idea, the power of online video within a business market and the enormous commercial opportunity for Moviecom.tv.”
The spokesperson continued: “Moviecom.tv is the only platform of its kind.
“Free at the point of use, it allows users to centralize and manage all their online content, videos, blogs and social media posts on their own branded Moviecom.tv account.
“Users can then buy the advertising module, which allows them to monetise their site.
“A free iPhone app, allowing users to upload video to their site while on the go has also been released in the iTunes store.
“With online video usage set to explode, Moviecom.tv has entered the market with its unique offering at exactly the right time. According to Cisco, video will increase from 30 per cent of all Internet traffic to 90 per cent of Internet traffic by 2013.”
Richard Moir, CTO of Cisco Scotland has joined the advisory board to support the company’s global ambitions.
He said: “As a born and bred Scot, I’m keen to support indigenous Scottish companies that are trying to establish themselves not just in the Scottish market but a global market.
“At Cisco, we use video throughout the organisation and I’ve seen first hand how important and relevant it is as a communications tool.
“The Moviecom.tv platform has arrived at the right time to capitalise on huge growth in the market.”
The company has been self-funded through the development phase and is now in the process of securing investment to scale the company.
“Generating £700,000 revenue pre-launch has demonstrated the appetite in the market, and we are now embarking on a high growth commercialisation phase. We are currently inviting – and receiving – investment offers, this is an incredibly exciting opportunity,” added O’Neil.
Notes to editors:
- Some useful stats on online video:
- Online video is the fastest growing medium in the history of the world (Comscore)
- Internet Retailer reports that visitors who view product videos are 85 per cent more likely to buy than visitors who do not. (Internet Retailer, April 2010)
- Retail site visitors who view video stay two minutes longer on average and are 64 per cent more likely to purchase than other site visitors. (Comscore, August 2010)
- With proper optimisation, video increases the chance of a front-page Google result by 53x. (Forrester, January 2010)
- Link to the iTunes store to view the App below and screen shots of the app available on request.
- The business, founded in 2007 by Gillian and Kev O’Neil, is based in Glasgow’s Merchant City and now has ten employees. Directors and investors biogs are available on request.
- For further information or to arrange an interview with the founders or directors, please contact: Michelle Rodger, Tartan Cat Communications, www.tartancat.com 0141 225 0166 / 0780 373 0207 firstname.lastname@example.org
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