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Pixsy Corp., the upstart video and image search company that's taking on larger rivals such as Blinkx and Truveo, said today that online video-sharing channel Veoh Networks will start using its technology in return for an undisclosed sum.
With the deal, which is exclusive on the image-search side but not on the video-search side, Pixsy adds Veoh to its list of paying customers, which also includes Travelocity, Pixsy CEO Chase Norlin told Vator.tv in a phone interview.
The video search market got a high-profile boost in May when Blinkx went public on London's Alternative Investment Market in an IPO that raised $50 million and valued the company at $225 million. The fact that Blinkx achieved that valuation despite being unprofitable raised a lot of eyebrows, but it helps illustrate the enthusiasm investors have for the technology.
"It's tough to swallow whenever you see a rival raise that much cash," Norlin said, "but it validates the market we're in."
It's also a reminder that startups should be looking at overseas funding opportunities. Read another story on that same topic here.
Now that Pixsy's technology will be available to Veoh's 18 million unique visitors per month, this seems like a good time to roll out our one-on-one interview between Norlin and Vator.tv's Bambi Francisco, filmed in late September. In it, Norlin explains how video search has evolved recently and how his company works to build partnerships with small as well as top-tier publishers.
Chase also talks about Blinkx’s IPO , the financial/business partnerships Pixsy is currently exploring and the future growth of the video search market. To see Chase’s pitch for Pixsy click here. To see Chase sharing the lessons he learned in his life as an entrepreneur, click here. For an interview with Pixsy competitor Truveo’s CEO Tim Tuttle, click here.
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