VideoEgg

[ 2006.01.18 | Press Release ]

SAN FRANCISCO, Calif., — (January 18, 2006) — VideoEgg, Inc., a leading innovator in web-based video publishing solutions, today announced that it has closed a venture round with August Capital, a leading Silicon Valley venture capital firm that invests in entrepreneurial teams throughout the information technology market spectrum.

The company also announced that David Hornik from August Capital will be joining VideoEgg's Board of Directors. Early funding for VideoEgg was provided by First Round Capital prior to its launch at DEMOfall in September 2005.

The funding will be used to accelerate the development process of VideoEgg's flagship product, The VideoEgg Publisher, as well as to expand overall marketing and business development efforts.

"August Capital is a logical investor for us and we are thrilled to be working with them," said Matt Sanchez, Co-Founder and CEO of VideoEgg, Inc. "The VideoEgg Publisher has received a very warm welcome and lots of positive feedback from partners and users across the industry. This investment will help accelerate our progress so we can bring our vision to market much more quickly." Cliff Boro, Managing Partner of venture-development group CVT Ventures and VideoEgg's Chairman added, "VideoEgg has been so fortunate to have First Round Capital as our seed investor and we are now delighted to welcome David Hornik and August Capital to our Board."

"I firmly believe that video will be the next big wave on the web," said David Hornik, General Partner at August Capital. "We invested in VideoEgg because their technology represents a giant leap forward with respect to ease-of-use, which we believe will accelerate the adoption of video publishing on the web by mainstream users."

PC World's predictions for 2006 suggest that more and more people are putting their videos online and that the trend is only going to accelerate, including video blogging. Video blogging was a huge success story in 2005 and its adoption will increase as online blogging services add video options, like the partnership VideoEgg already announced with SixApart's Typepad in October 2005.

The VideoEgg Publisher's straightforward approach to online video publishing focuses on simplifying digital video, making it as easy to post videos to the web as it is to post photos. The VideoEgg Publisher makes it truly simple for users to grab video from a digital camcorder, digital camera, video file, Web cam or mobile phone.

The VideoEgg Publisher's simplicity enables many new opportunities for online video publishing, such as adding video to classified ads, real estate sites, personal profiles on dating and social-networking sites, auction postings, as well as the ability to now share a video with family and friends across the country or world.

About VideoEgg

VideoEgg offers web-based video publishing solutions which make it easy to for internet users to encode, upload, host and watch video. Its flagship product, the VideoEgg Publisher, is a small website plug-in that makes it easy for end-users to capture, edit, encode, and post digital video online. A "universal adapter" that captures directly from hundreds of devices and reads dozens of formats, the VideoEgg Publisher allows internet users to painlessly publish video in a format that anyone can watch without worrying about player compatibilities, encoding settings, or extra software. For more information, visit: http://www.videoegg.com.

VideoEgg and VideoEgg Publisher are trademarks of VideoEgg, Inc.

About August Capital

Founded in 1995, August Capital is a leading venture capital firm that invests in entrepreneurial teams throughout the information technology market spectrum. With more than 50 years of combined venture capital experience and dozens of successful IPOs and public company board relationships, August Capital partners have financed technology companies with an aggregate market capitalization of more than one-half trillion dollars.

Press Contact
Karen D'Angelo Hopp
Connors Communications
212-798-1443
khopp@connors.com