Stanford CFO Randy Livingston Joins Virage Board of Directors
University CFO and Vice President of Business Affairs Brings Expertise in Management and Finance
SAN MATEO, Calif. - June 4, 2001 - Virage, Inc. [NASDAQ: VRGE], a leading provider of video content management and publishing solutions, today announced that Randy Livingston, chief financial officer and vice president of business affairs at Stanford University, has joined the Virage board of directors. Livingston will serve on the board's audit committee.
"Randy Livingston adds to the already impressive list of Virage board members whose expertise is driving Virage to the forefront of our industry," said Paul Lego, CEO, Virage. "His background in management, finance and interactive media makes him a particularly valuable member of the board and we are pleased to welcome him to our organization."
"Virage is well-positioned as the leading provider of applications and services for the next generation of digital content. Their cutting-edge technology is incredibly valuable for any company utilizing digital video in their operations," said Livingston. "I look forward to working with Virage's world-class management team, which I believe has knowledge and vision that is unparalleled in this field."
Livingston brings a broad technology background to Virage, having served as a consultant and part-time CFO for Silicon Valley companies with diverse specialties including enterprise software, genomics, Internet commerce, medical device manufacturing and chemical synthesis. At Stanford, he oversees administration of various key offices including the controller's office, human resources, information technology systems and services, and business development at the University. Livingston also serves as a director of the Stanford Management Company, which manages Stanford's endowment fund.
Prior to joining the University, Livingston was executive vice president, chief financial officer and director of OpenTV, a leading global interactive television company with software deployed in more than 16 million homes worldwide. Livingston oversaw all financial and administrative functions for OpenTV and led the company through an initial public offering in 1999.
Livingston graduated from Stanford University in 1975 with a BA in mechanical engineering and earned his MBA at the Stanford Graduate School of Business in 1979.
About Virage, Inc.
Headquartered in San Mateo, California, Virage is the leading provider of solutions that enable video for strategic online applications. The Virage Video Application Platform transforms video into an effective online medium that is easy to publish, manage and distribute on the Internet or corporate intranets. The Virage platform provides content owners with the complete infrastructure for seamlessly integrating streaming video into business, entertainment and information applications. From ABC to Yahoo! over 200 customers across a broad range of markets have turned to Virage to help them improve production efficiencies and create new revenue opportunities with video. Contact Virage at http://www.virage.com/ or (650) 573-3210.
This press release contains "forward looking" statements about the products and services of Virage as that term is used in Section 21E of the Securities Exchange Act of 1934. Forward looking statements are denoted by such words as "will serve", "will be" and similar terms and phrases. These types of statements address matters that are subject to risks and uncertainties, which could cause actual results to differ materially. In addition, our forward-looking statements should be considered in the context of other risk factors discussed in our filings with the Securities and Exchange Commission, including our Registration Statement on Form S-1, as amended, available online at http://www.sec.gov. All forward-looking statements are based on information available to the company on the date hereof, and the company assumes no obligation to update such statements.
Virage and VideoLogger are registered trademarks and the Virage logo, Video Application Server and SmartEncode are trademarks of Virage, Inc. Other company product and service names may be trademarks or service marks of others, and are hereby acknowledged.
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