I am very pleased to announce that Eric Quanstrom joins my executive team at Sorenson Media as VP Marketing & Strategy. I have known Eric personally for several years now, and I was fortunate to have him on my executive team at SightSpeed as VP Marketing -- where he proved himself in spades. SightSpeed, of course, was acquired by Logitech in a smart move made in November 2008. I also announce today that Kirk Punches has been promoted as VP Sales and Mark Ivins, Controller, also joins my executive team.
I am very pleased and fortunate to work with such great talent across the board.
Here is the full release -- http://finance.yahoo.com/news/Sorenson-Media-Names-Eric-bw-15354909.html?.v=1
This is a very curious move, given the proliferation of video over the Internet just now (and the fact that we are only into inning 2 of the Internet video game). If ever there was a time to be in video, NOW is the time.
But, upon closer inspection, Yahoo!'s move is understandable, since video platform plays aren't for the inexperienced and untested faint of heart. If companies like Yahoo! can't make it work, imagine the risks with other companies that only got into the Internet video game in the past few years ... which is essentially everyone ...
Sorenson Media has been around for 14 years -- and has been recognized as a leader and innovator enabling high quality Internet video from the very beginning. First, with Sorenson Spark (the most widely used video codec on the Internet). Second, with Sorenson Squeeze, the gold standard video encoding application.
Now, we just introduced Sorenson 360, which re-imagines what a video publishing platform should be ... based on the wish list of our massive customer base.
For video professionals, the now-anticipated demise of Maven Networks is a wake-up call -- who can they trust with their prized video assets? What happens to their videos when these companies fail? If Maven Networks is allowed to fail, what about the others in the space -- virtually all of whom are VC-backed? None of them are reported to be profitable and, therefore, all of them are in need of cash. And, it ain't exactly a great time to be looking for funding.
That's a significant reason that -- for industry video Mavens -- Sorenson 360 is a service that you can depend on. That you can trust, because we have been here for 14 years ... and we will be here not only tomorrow, but next year, in 5 years and beyond. We can say that because only we have proven that already. Only we have been profitable for years. Only we have a multi-pronged business model with multiple revenue streams. Only we already have a massive customer base who told us what THEY want in a service -- and have asked us to give it to them. And, only we have been recognized as being a leader an innovator and trusted problem-solver for years and years and years. And, to further bolster our case, Sorenson 360 has been uniformly praised by industry experts as being a great service -- high quality, drop-dead easy to use, and cost effective.
(Separately, I recall another little company that Yahoo! acquired for the same $160 million number several years ago -- Musicmatch (at which I served as President & COO); Musicmatch ultimately also saw the same fate, as it too was wound down to enable Yahoo! to focus more on its core businesses.)