ColorTV, an end-to-end platform for broadcasters to promote, personalize and attribute content on connected TVs and streaming devices, today announced that it has entered into an agreement to acquire Guidebox Inc, the OTT video search and discovery metadata provider to nearly 50 television brands. Terms of the deal were not disclosed.
"With Facebook, Google and Apple strongly entering into the TV market, we help ensure TV network revenues and distribution on OTT and mobile do not become eroded by this new competition set," said Giancarlo Maniaci, CEO of ColorTV. "The key to success in the new TV landscape is simple: increase viewership and retain each customer through a premier personalized user experience while optimizing monetization. This is easier said than done, and combining the Guidebox team and technology with ColorTV creates an even stronger solution for our clients."
Guidebox, which will operate under the "Guidebox by ColorTV" label, is a technology that enables TV viewers to search for and discover TV programming on connected TV platforms such as Roku, Apple TV, Amazon Fire, Google Home, Android, iOS, and web. Guidebox was founded in 2012, bootstrapped with a $350,000 investment by its founder and CEO, Jeremy Riney, followed by a
SEED round in 2013 by a group of private investors including Facebook co-founder Andrew McCollum. Today, Guidebox data touches over 50M US households.
ColorTV's SDK and suite of analytics tools already power over 300 apps and major brands on Apple TV, Roku, and Amazon Fire. This acquisition gives the company access to Guidebox's long list of customers including Ericsson, Synacor, WWE, Fandor and various Lionsgate streaming services such as Tribeca Shortlist and Comic-Con HQ. It also enables ColorTV to combine its expertise in analytics, retention and content promotion with valuable search data so that TV networks can gain even more insight into their users and how best to monetize them and increase viewership.
"We are excited to join the ColorTV team, as our combined platform offerings will add intrinsic value to TV networks and current customers alike," said Riney. "The TV industry is changing rapidly, and ColorTV's product combined with our data and partnerships will give video platforms the deepest insight and control on what their users are watching, how long they watch it, and what content to promote to them."
About ColorTV Founded in 2016 and based in Los Angeles, ColorTV is the end-to-end platform for broadcasters to promote, personalize and attribute content on connected TVs. ColorTV's platform provides a diverse suite of data, discovery and analytics solutions for Connected TV, built to empower networks to compete in the new connected TV ecosystem. According to NPD Group, approximately 50 million homes in the U.S. now own a connected TV or streaming device. ColorTV is venture backed, with $1.5 million in SEED funding led by Foxconn. For more information about ColorTV, go to www.colortv.com.
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