Entry Submitted By: Blanc & Otus
Company Description: Since its launch in 2005, VideoEgg has been at the forefront of advertising innovation, launching multiple new market-leading ad technologies and programs. VideoEgg was the first to commercialize interactive advertising overlays onto video, an approach that is being widely adopted by the industry.
Nomination Category: Company Categories
Nomination Sub Category: Best New Company
Nomination Title: VideoEgg
In February of 2007, less than two years after the company was founded,
VideoEgg announced it was now hosting over three million video files,
demonstrating it had become the leading video solution for online communities.
Its video ad network, the EggNetwork, had also grown to include more than 60
online communities such as AOL, Bebo, hi5, myYearbook.com and Tagged, moving to
become the largest ad network of its kind. By late April, VideoEgg continued to
demonstrate substantial growth, announcing that the EggNetwork powered 60
online video campaigns in a three month time span, including campaigns from
General Motors, Ford, L’Oreal, Puma, ABC, Canon, Electronic Arts, and Nestlé.
Over the next few months, VideoEgg garnered a number of key industry awards,
signaling the company’s growth and innovation. VideoEgg was selected by
AlwaysOn as an OnHollywood 100 Top Private Company, and was named a 2007 Red
Herring 100 North America Winner, which recognizes the 100 most promising North
American companies driving the future of technology.
As the popularity and usage of widgets on Facebook was peaking, VideoEgg began
enabling Facebook developers to monetize their applications through the newly
launched Eggnetwork Advertising Platform (EAP) in August 2007. The platform
allows developers to earn money with the applications they develop for Facebook
by leveraging the EggNetwork’s international sales team and innovative approach
to online advertising.
In September 2007, VideoEgg announced that it had closed its series C round,
securing $15 million in funding led by Focus Ventures. WPP, August Capital, and
Maveron also contributed to the round.
In an effort to foster a dialogue around the open application environments
associated with social networks, VideoEgg also hosted their first “AppCamp” in
late October 2007, a one-day event which successfully engaged developers and
industry insiders in a conversation around monetization and understanding user
behavior for advertising in social environments.
Further highlighting the company’s growth and innovation in the online
advertising space, in December 2007, VideoEgg won the ASPY Award for best new
business idea in the technology category for their pioneering of the video ad
overlay and was also named a Red Herring 100 Global winner, the next level of
distinction of the Red Herring North America 100, previously won in mid-2007.
By January of 2008, VideoEgg had reached another company milestone. Through
their Eggnetwork Advertising Platform, VideoEgg had provided $1.5 million to
leading Facebook application developers, signaling the growing success of
monetizing social content. Drawn to VideoEgg’s pioneering approach, leading
application developers such as RockYou, the Social Gaming Network and Renkoo
garnered a significant portion of revenue generated from ads served through the
In February of 2008, VideoEgg launched the AdFrames Brand Response Network, an
industry-leading program that provides advertisers a more measurable way to
reach highly engaged consumers using video and rich media. AdFrames allows
advertisers to negotiate a price for engagement, a more valuable indicator of
consumer interest than the current CPM model, and is an approach that will help
reframe the focus of the industry from quantity to quality.
Matt Sanchez helped launch VideoEgg in early 2005 with fellow Yale graduates
David Lerman, and Kevin Sladek with the hopes of mastering all aspects of
online video. Prior to co-founding VideoEgg, Matt was a managing member and
chief operating officer of MediaLiquid, a production company founded by
Sanchez, Sladek and Lerman that focused on helping non-profits develop cost-
effective public service announcements by. He began his entrepreneurial career
in high school when he founded a computer consulting group. Sanchez holds a
B.S. in Electrical Engineering and Computer Science from Yale University.