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Issue Date: February 2012, Posted On: 2/16/2012

OVGuide acquires Live Matrix; Sanjay Reddy named CEO
OVGuide, an up-to-date guide to online video, has bought Live Matrix, a guide to live and scheduled events. As part of the deal, OVGuide named Live Matrix co-founder and CEO Sanjay Reddy its new CEO. The combined offering creates the definitive online guide to on-demand and scheduled video content, the company said.

The acquisition and appointment of Reddy heralds an exciting new direction for OVGuide, which helps users find the very best video content on the Web, including free movies, TV shows, anime, sports, celebrity and viral videos, at no charge, the company said.

Live Matrix will continue operation as a stand-alone site focused on live, scheduled events, including video and audio webcasts, live chats, limited-time sales, conferences, product launches, games and contests, and more.

“Sanjay Reddy is a visionary, and a veteran of new media -- a creative thinker and proven leader who will help OVGuide expand its digital footprint in the video entertainment world and grow its already formidable user base,” said OVGuide Chairman David Bohnett. “We’re on the verge of a revolution in online video content. Even as consumption continues to grow rapidly, consumers are often unaware of sources and availability of content. Publishers can’t reach audiences fragmented by time and platform, and advertisers can’t properly leverage the Web to reach audiences with contextually relevant messages in a timely manner. This acquisition puts Sanjay Reddy and OVGuide in the best position to deliver the solution we all need.”

OVGuide, created in 2006, is currently the leader in traffic among independent video sites, enjoying more than 12 million monthly unique visitors, and over 20 million searches per month.

Publicly launched in September 2010, Live Matrix is a comprehensive online guide for all scheduled events on the Web, with over 4 million events tracked across over 400 channels and indexes, with average of 300,000 events weekly. Live Matrix was the winner of the Most Promising Media Concept award presented by NBC’s Peacock Equity Fund at the 2010 TechCrunch Disrupt Conference in New York City.

“The fit here is unique, and represents a great opportunity for us all,” Reddy said. “Starting with founder Dale Bock, and subsequent CEO Peter Lee, the entire OVGuide team has created the largest independent online video guidance portal and the most comprehensive database with over 60 million video results. We are seeing geometric growth in online video production, and wide availability across multiple distribution platforms. This makes the need for video guidance and discovery paramount. We are well positioned to be everyone’s go-to-source for online video content, whether it’s live, on-demand, or scheduled for the future. I look forward to working with the team to combine the audience, data and distribution platforms of OVGuide and Live Matrix and create a valuable service for users, content publishers and advertisers alike.”

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