Cary Marsh and Iain Millar of Mydeo
UK video technology firm Mydeo confirmed a deal with the American retailer Best Buy today to power a paid-for video sharing service, with Best Buy taking a minority stake in the company.
The video sharing service is a curiosity, because Best Buy believes it will tap a demand for secure, private media sharing that consumers will be prepared to pay for. Prices start at $6.97 for 100 minutes of video, and the service adds on to the existing Best Buy digital music store.
Far more interesting, though, is Mydeo itself, which is a rare example of a start-up supported through government funding. The company is only just over two years old and started as the project of a couple that wanted a secure service to share video and photos with friends. Co-founder Cary Marsh has juggled two babies and navigated government funding applications while setting up Mydeo, working from a business incubator project in Kingston.
Source: Release
Technorati Tags: BestBuy, Mydeo
