AOL EXPANDS GLOBAL SCALE IN VIDEO DISTRIBUTION, DISCOVERY AND MANAGEMENT THROUGH ACQUISITION OF VIDIBLE
COMBINATION WILL CREATE AN OPEN MARKETPLACE FOR VIDEO WITH THE MOST COMPREHENSIVE SET OF TOOLS FOR CREATORS AND PUBLISHERS IN THE LARGEST AND RAPIDLY GROWING DIGITAL MEDIA SEGMENT
NEW YORK- December 1, 2014 -- AOL Inc. (NYSE: AOL) today announced it has acquired Vidible Inc., the leading independent cross-screen video management and exchange platform for buyers and sellers of digital media. The acquisition further extends AOL's leadership position in video content management and syndication, and creates the most comprehensive set of video content management tools in the marketplace for creators and publishers.
Vidible's cross-screen platform offers a self-service set of tools and exchange capabilities with robust real time reporting for content creators and publishers. Content creators use the platform to expand distribution reach and increase monetization options of their video content, while publishers in need of contextually relevant videos for their sites use Vidible to source and manage content, which engages audiences and creates new advertising based revenue streams.
With the acquisition, AOL:
- Expands its video stack with new video content management tools
- Increases availability and management of premium video globally to publishers and content owners via a self-serve platform
- Adds a video content exchange that will seamlessly plug into AOL's monetization platforms, including ONE by AOL
- Adds an A+ team of proven operators and top-notch product and technical leaders
"AOL is focused on transforming the digital media environment by creating an open marketplace for video," said Dermot McCormack, President of AOL Video and Studios. "We are thrilled to welcome the Vidible team to AOL as we accelerate our mission of providing our partners the platform and tools they need to better create, curate, syndicate and monetize their content across the globe. "
The addition of Vidible's global platform to AOL Video's offering, including premium original content, programming and publishing partner network, will create the most comprehensive set of tools in the marketplace for its partners to offer a highly differentiated experience optimizing yield and expanding premium reach for both.
"We're excited to be joining AOL, a company that is at the forefront of video, " said Tim Mahlman, President and Co-founder of Vidible. "The combination of AOL Video and Vidible accelerates our vision of making content management and syndication available to video content creators and publishers everywhere."
Vidible is headquartered in Bellevue with offices in New York City and San Francisco. Vidible brings a global content exchange with over 300,000 videos and more than 800 million monthly video plays, adding to AOL's library of 1 million premium videos.
Financial terms of the deal were not disclosed.
This release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding the anticipated benefits of the transaction, the expected closing date and other statements identified by words such as "may," "will," "intend," "estimate," "should," "expect" or similar expressions. These forward-looking statements are based on the current expectations and beliefs of AOL's management, and are subject to uncertainty and changes in circumstances, including, but not limited to, the satisfaction of the closing conditions to the transaction, the competitiveness and quality of our combined offerings and significant competition in the internet advertising industries generally, our ability to timely and successfully integrate Vidible's technology and operations into our technology and operations, our ability to retain, hire and develop skilled employees and the parties' performance of their obligations under the agreements. Any forward-looking information is not a guarantee of future performance and actual results may vary materially from those expressed or implied by the statements herein, due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, as well as factors affecting Vidible's and AOL's operations and businesses. More detailed information about these factors as they relate to AOL may be found in the section entitled "Risk Factors" in AOL's Annual Report on Form 10-K for the year ended December 31, 2013 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2014 filed with the SEC. AOL is under no obligation to, and expressly disclaims any obligation to, update or alter the forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.
AOL (NYSE: AOL) is a media technology company that simplifies the Internet for consumers and creators by unleashing the world's best builders of culture and code. As the 4th largest property on the Internet, with nearly 250 million consumers of its world-class collection of premium brands every month, AOL operates at scale, connecting tens of thousands of publishers with thousands of advertisers on its global and programmatic, content and advertising platforms. AOL is positioned at the center of the disruption of how content is being produced, distributed, consumed and monetized and its opportunity lies in shaping the future of the digitally connected world for decades to come.
Founded in 2012, Vidible is the leading video management and exchange technology platform, enabling buyers and sellers of digital media to manage and monetize video content across all devices. With offices in New York, San Francisco and Seattle, Vidible is transforming the digital media environment. Vidible's funding was led by IDG Ventures, and Greycroft along with New York Times.
Eoin Ryan, 212-206-5025