ExpoTV Announces the Addition of Investor DFJ Gotham;
Hits Major Milestone of 100,000 VideopinionsSM Reviews
Leading Video-Based Social Commerce Network
Posts 132 Percent Increase in New Video Product Reviews
NEW YORK CITY – July 31, 2007, 8:00 am EST ─ ExpoTV (www.ExpoTV.com), the leading provider of consumer-generated video product reviews, today announced the expansion of funding to include New York-based DFJ Gotham Ventures. DFJ Gotham Ventures joins the previously announced venture capital investors Masthead Venture Partners and Prism VentureWorks. DFJ Gotham is investing in ExpoTV through DFJ Gotham Venture Fund II, L.P., its second venture capital fund. Separately, ExpoTV reported a quarterly growth rate of 132 percent in video submissions in the second quarter, reaching a milestone of more than 100,000 VideopinionsSM Reviews representing by far the largest catalog of product reviews available on video.
“We are excited to expand our investors to include such a proven and active partner like DFJ Gotham Ventures,” stated Daphne Kwon, CEO of ExpoTV. “The New York region has become a nexus for innovative media startups, and DFJ Gotham Ventures’ deep involvement with the entrepreneurial community here, along with their track record of success, make them the perfect addition to our investor group. We’re proud that DFJ Gotham Ventures has claimed a stake in the explosive online video space with ExpoTV.”
The increased capital will help ExpoTV accelerate the growth of its video contributor community, whose Videopinions reviews cover thousands of national brands in a broad range of categories including electronics, health and beauty products, home appliances and consumer packaged goods. The site recently re-launched with a suite of new social networking tools for its consumer contributors. The expanded investment will also be used to advance ExpoTV’s publishing technology and content management capabilities, allowing the company to syndicate content to leading portals and ecommerce destinations including Yahoo!, AOL, Google, YouTube, Smarter.com and Buy.com.
“ExpoTV has tapped into a powerful new consumer voice,” stated Jed Katz, managing director of DFJ Gotham Ventures. “We are confident the site’s unique word-of-mouth marketing service will become a tremendous force in influencing shopping behavior by utilizing the power of video. ExpoTV is a perfect fit with our investment strategy. We look forward to partnering with ExpoTV to expand their success on a national scale and continue their substantial leadership position in the new VideopinionsSM space.”
About Expo Communications
ExpoTV is the first and largest video-based social commerce network specifically tailored for the consumer in control, offering a fun, fast way for real people to connect, share and celebrate the products they are passionate about. Think of it as YouTube meets Consumer Reports. ExpoTV.com is home to the world’s largest catalog of more than 100,000 “Videopinions” SM Reviews created by a fast-growing community of brand influentials. ExpoTV’s army of opinionated shoppers demonstrate products from a real-world perspective in an easy-to-understand video format. Covering a broad range of categories including kitchen products, consumer electronics, entertainment and travel, ExpoTV’s Videopinions are available online at www.expotv.com and they are distributed through partnerships with the world’s largest portals including Yahoo! Video, AOL, Google and YouTube; to leading ecommerce destinations like Smarter.com and Buy.com; and to more than 25 million digital cable homes through VOD partnerships with Comcast, Time Warner, Charter, Verizon and other cable operators.