Here’s an overview of the week’s big stories in online video, with highlights from YuMe, Wibbitz, AOL and Taboola. To stay up to date and have the latest industry news and insights delivered straight to your inbox, sign up for the weekly VAN newsletter.
YuMe Files for $65 Million IPO
YuMe, a video ad platform, are following Tremor has filed its S-1 with the US Securities and Exchange in advance of its IPO. The proposed maximum offering price is $65 million, and if YuMe’s financial summary is anything to go by, the company’s revenues are in far better shape than Tremor Video’s, whose stock price has dropped 25% (at the time of writing) from $10 to $7.50 since its IPO last week.
During the three months ended March 31, 2013 YuMe’s revenue was $26.6 million, which was a 33% increase over the same period in 2012, while the company’s gross margin expanded to 45% from 43%. During the same period, the company recorded a net loss of $3.3 million and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $(1.6) million.
Wibbitz Launch ‘Text to Video’ News App
Wibbitz have launched a mobile application which converts text-based news stories into video clips designed for mobile devices. The app takes each article and turns it into an interactive video clip that merges an audio voiceover with images, video clips and infographics.
Before the new app was launched, Wibbitz already offered content-to-video solutions for publishers, encompassing over 50,000 sites with over 17 million unique video views per month.Wibbitz’s say their technology allows publishers to convert their existing text-based content into video content at scale and without human intervention, allowing publishers to monetise that content as video.
The algorithms that drive Wibbitz’s technology analyze the text of an article, extract the highlights and translate them into video summaries that merge images, video clips, infographics and text-to-speech. The tech uses ‘Natural Language Processing’ (NLP) technologies, and narrows down texts into 1-2 minute videos.
AOL Partner with Taboola for Content Distribution
AOL have partnered with Taboola to build audiences and distribute their video content across the web. Taboola function a bit like an ad network, but instead of serving ads for products or services, they serve content which they say is personalised.