PixelFish Acquires Innovative Local Directory Backyard
Technology combination makes online video more relevant for local businesses
TORRANCE, Calif. (April 26, 2011) - PixelFish, a leading provider of online video marketing solutions for local businesses, today announced its acquisition of local business directory Backyard, who specializes in using the user's social media information to provide more relevant results by better matching local business deals, services and products with the user"s interests and demographics.
"When Backyard CEO Steve Espinosa and I began discussing how our companies might work together, it quickly became apparent that we could do something big," says PixelFish CEO John McIntyre. "Backyard brings a dynamic team of technology innovators who share our vision of creating an extraordinarily better way for local businesses to connect with customers."
Backyard's core technology aggregates and analyzes social media data captured via their directory and a host of other proprietary online applications. "Our technology allows us to leverage data from the social graph to contextualize online video," says Backyard CEO Steve Espinosa. "By creating a connection between the information people share on Facebook with what types of local businesses they will most likely enjoy, we can apply that same logic with what videos they are most likely watching to best target video ads for local businesses."
"Combining Backyard's revolutionary technology with PixelFish's innovative software-as-a-service video creation, distribution and tracking application allows us to deliver immense value for local advertisers and consumers," says McIntyre. "We know what video ads work best where for each local business."
The acquisition, whose terms included both cash and stock, also combines Backyard's angel investors including industry leaders Dave McClure from 500 Startups, Eric Schmidt from Tomorrow Ventures and Jason Calcanis with PixelFish's lead investor, Floodgate, a well-respected Silicon Valley VC, providing exceptional advisory support and financial backing.
As part of the acquisition, PixelFish announced that Espinosa has been named Chief Technology Officer of the company.
About PixelFish Inc.
PixelFish enables local businesses to attract customers using online video. The company has developed a groundbreaking software-as-a-service application for quickly and easily creating, distributing, and optimizing the most affordable and effective video ads. PixelFish offers a range of video solutions that meet the varying needs and budgets of businesses of all sizes, supported by its global network of more than 4,000 professional videographers. PixelFish is a privately-held corporation headquartered in Torrance, California. To learn more about PixelFish, please visit www.pixelfish.com.
About Backyard
Backyard is a local business promoter whose goal is to serve consumers with relevant and valuable information about deals in their area. Backyard offers a unique customer experience combined with fresh and up-to-the-minute updates on local promotions and deals. Bars, restaurants, movie theaters, and nail salons are only a few of the many categories available through Backyard.
Media Contact Teena Touch PR for PixelFish Inc. 415-310-3125 Teena@teenatouchpr.com
