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Revver Announces Investments From Comcast Interactive Capital and Turner Broadcasting

Posted on: Monday, 31 July 2006, 09:00 CDT

Revver, Inc., the leading service for distributing and monetizing original video content online, today announced that Comcast Interactive Capital and Turner Broadcasting have joined as new investors in its Series B funding round. The additional funding will drive Revver's market expansion, team-building and technology development.

Revver connects content owners with advertisers to create a real-time marketplace for online video. Its proprietary technology allows content owners to track videos when they are shared so that they can promote and monetize their videos online.

"The market for online user-generated video content is growing exponentially," said David Horowitz, Principal, Comcast Interactive Capital. "We are excited by Revver's unique approach in helping content creators create value from their work. Revver's seasoned management team and its initial success in monetizing online video positions the company for future growth."

"Television entertainment is becoming more and more multi-dimensional, and Turner is building innovative ways to reach new audiences," said Greg Foster, VP of Corporate Development at Turner. "Revver's unique tool set will provide us with another way to realize this goal."

"Comcast Interactive Capital and Turner's investment in Revver demonstrates their understanding that a new generation of consumers is sharing and discovering its content online," said Steven Starr, founder and chief executive officer of Revver. "Revver has created a trusted environment that will help partners leverage the popularity and power of viral video while respecting content creators and copyright laws."

Revver previously announced its Series B round of $8.7 million in April. Earlier investments were led by Draper Fisher Jurvetson and joined by Bessemer Venture Partners, Draper Richards and William Randolph Hearst III.

About Revver

Revver is the first online service that truly leverages the social power of the Internet by supporting the open distribution of video content through the creation of a sponsorship marketplace. Revver connects video content owners directly with advertisers and allows their work to be superdistributed online and to mobile devices. Revver's proprietary technology matches individual videos with advertising, supports sharing through a network of syndication partners and viral tools, tracks performance, and rewards content owners and syndicators with a percentage of the revenue generated from advertising. Revver's contextual advertising capabilities also connect advertisers to specific demographics with a unique collaborative learning algorithm, which maximizes ad performance. For more information, visit www.revver.com.

About Comcast Interactive Capital

Comcast Interactive Capital (CIC) is a venture capital fund focused on broadband, enterprise and interactive technologies. CIC is affiliated with Comcast Corporation, the nation's leading provider of cable, entertainment and communications products and services. CIC's primary goal is to generate superior financial returns from private equity investments in early-stage technology companies. To achieve this goal, CIC works to foster the success of its portfolio companies by bringing to bear the unique resources, experience, and insight of both CIC and the Comcast family of companies. Additional information is available at www.civentures.com.

About Turner Broadcasting

Turner Broadcasting System, Inc. (TBS, Inc.), a Time Warner company, is a major producer of news and entertainment product around the world and a leading provider of programming to the basic cable industry.

Source: Business Wire

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