Virage and RealNetworks to Bring Virage Technology to Realplayer® and Real.Com™ Network Users
RealNetworks to Make $3 Million Equity Investment in Virage
NAB 2000, Las Vegas, NV—April 10, 2000 —Virage, Inc., a leading provider of interactive video search products and application services, announced today that RealNetworks®, Inc. (Nasdaq: RNWK), a recognized leader in Internet media delivery, will team with Virage to provide improved video search to its more than 100 million unique registered users of the RealPlayer and the more than 12 million unique monthly users of Real.com Network (according to Media Metrix, February 2000). RealNetworks will also join Virage's growing network of providers for its Virage Interactive™ services which provide content owners with the infrastructure for integrating Internet-compliant video into their web sites.
In addition, RealNetworks will make a $3 million private equity investment which will close concurrently with Virage's anticipated initial public stock offering.
"The extraordinary popularity of RealNetworks' RealGuide and Take 5 illustrate how hungry Internet users are for easy access to great content," said Rob Glaser, chairman and CEO of RealNetworks. "RealNetworks and Virage have been leaders in bringing consumers to content and we look forward to collaborating on technology to enhance the consumer's ability to find what they need on the Internet."
"RealNetworks continues to break new ground in media delivery on the Internet," said Paul Lego, Chairman and CEO of Virage. "This investment and product integration couples the ubiquity of RealNetworks' media delivery products with the power of Virage's video search capabilities. We believe that the resulting system will provide a powerful new way to interact with video on the Web, unlocking the value in the countless hours of video on the Internet."
About RealNetworks
RealNetworks, Inc., based in Seattle, is a recognized leader in media delivery on the Internet. It develops and markets software products and services designed to enable users of personal computers and other consumer electronic devices to send and receive audio, video and other multimedia services using the Web. Consumers can access and experience audio/video programming and download RealNetworks consumer software on the Internet at http://www.real.com. RealNetworks' systems and corporate information is located on the Internet at http://www.realnetworks.com.
About Virage
Virage is a leading provider of products and application services that enable owners of video content to publish, manage, and distribute their video assets over the Internet or corporate intranets. Virage Interactive™ services provide content owners with the infrastructure for integrating Internet-compliant video into their web sites. Virage's VideoLogger™ and AudioLogger™ enable real-time indexing and distribution of video across the Internet or corporate intranets. Virage customers include ABC, AltaVista, Associated Press, BBC, Boeing, CBS, CNET, CNN, Compaq, C-SPAN, DaimlerChrysler, FBI, FOX Sports, General Electric, General Motors, Harvard Business School, iVillage.com, Lifetime Entertainment, Lockheed Martin, MGM, Morgan Stanley, NASA, NBCi/SNAP.com, New York Times, NYSE, NTT, ON24, PBS, RealNetworks, Reuters, Swiss Radio-TV, Telecinco, Yahoo! and Young & Rubicam. Headquartered in San Mateo, CA, Virage was incorporated in 1995 to provide organizations with advanced methods for searching, locating, and using video content. Contact Virage at http://www.virage.com/ or (650) 573-3210.
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