Monday, November 21, 2005

Brightcove Networks Lands $16.2M from AOL, IAC

An AP newswire article by Mark Jewell, via Yahoo! News, reports that:

The migration of television to the Internet is getting another boost with a deal that gives Web video startup Brightcove Networks Inc. a foothold on AOL's Web portal.

America Online Inc. and media companies IAC/InterActiveCorp and The Hearst Corp. are investing a total $16.2 million in Brightcove Networks Inc. in one of three moves the Cambridge-based startup is announcing Tuesday. Brightcove also said Barry Diller, IAC/InteractiveCorp's chairman and chief executive, will join its board.


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