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Jan252007

Roo Rolls in MyVideoDaily

Roo Group, an entrant in the online hosted video space, said Tuesday it would purchase an online video startup called MyVideoDaily in a deal mostly meant to obtain MVD’s personnel and software technology.

If nothing else, the terms of the deal — $350,000 and a half-million shares of Roo stock — shows what the market price is these days for online development teams like MVD’s five-person outfit. According to Roo CEO Rob Petty, MyVideoDaily will remain alive as a sort of testbed for new online video technology (like its current user-ranking feature), which may then be also rolled out to Roo’s customers, a list that currently includes Verizon and several News Corp. entities.

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Roo Media, MyVideoDaily, Online video

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