SOURCE: ESPRE Solutions, Inc.

January 09, 2008 10:59 ET

ESPRE Solutions Announces A-Round Funding for Blideo, Inc. Completed, at $1.5 Million

PLANO, TX--(Marketwire - January 9, 2008) - ESPRE Solutions, Inc. (PINKSHEETS: EPRT), a Dallas-based media solutions company with a revolutionary, patented video compression technology, today announced that the company it incubated and eventually spun out -- Blideo, Inc. -- has closed its $1.5 million series "A"-round of funding.

Blideo, an online business collaboration start-up based in Plano, Texas, initially raised $1.45 million in its founder's round. This included investments by ESPRE Solutions, as well as ESPRE founders and friends. The nearly $3 million in investments is being used fund product development, operational resources and the Beta launch, scheduled for April 2008.

On July 14, 2007, Blideo formally announced an agreement with ESPRE, wherein Blideo agreed to license the ESPRE LIVE™ interactive video engine (formerly eViewMedia Engine™) for the business collaboration market. As stated in its news release at that time, "Under a development contract ESPRE is creating a completely unique online collaboration experience for Blideo which lets business professionals participate in multi-party video conferences while simultaneously collaborating using live and pre-recorded streaming video assets. This offering has been built using ESPRE's unique video toolkit enabling Blideo to offer its users what is believed to be the most robust video and desktop collaboration experience over the web."

Blideo is positioned to become the first to offer a service, free of charge, consisting of a virtual meeting place for small-to-medium sized business professionals to share data, collaborate in real-time and present live online. Blideo plans to become the premier collaboration environment for small businesses and mobile professionals, by providing 24/7 virtual meeting spaces equipped with a complete suite of integrated communication and collaboration tools.

The collaboration market is highly competitive. According to industry analysts Collaborative Strategies, the 2006 real-time collaboration market reached $13.1 billion and is growing at a rate of 22% annually. Frost & Sullivan, another leading analyst firm, projects that the Web conferencing portion of the real-time collaboration market will reach $3 billion by 2010. Thus, ESPRE's management believes the timing is right for a solution such as Blideo, that targets the largest and fasting-growing segment of the U.S. workforce: small-to-medium sized business professionals.

Pete Ianace, ESPRE Solutions' CEO, states that, "Spinning out Blideo was critical to getting the proper funding in place, in order to launch the concept into the market. ESPRE is focused on providing video services and video toolkits to both enterprises and carrier customers," says Ianace.

Blideo, as a web 2.0 site, will be rolling out its free collaboration services to small-to-medium sized business professionals, with the goal of attracting millions of users to the service. The video tools and network will be provided using ESPRE's technology. In February, Blideo will announce more details on the program and provide an opportunity for interested Beta users to enroll in the Beta program.

About ESPRE Solutions, Inc.:

Plano, Texas-based ESPRE Solutions is a public company (PINKSHEETS: EPRT) and groundbreaking media collaboration solutions provider that fulfills the promise of TV-quality, real-time and streaming video over the Internet. ESPRE Solutions intends to be the video solutions provider of choice for Internet Service Providers, Enterprises, application developers, communications hardware vendors and chip manufacturers, by providing both narrowband and broadband video solutions for integration into traditional voice and data applications. ESPRE Solutions' ESPRE Live™ Media Engine provides an integrated toolkit solution for developers to create applications for business and personal communications. To learn more about ESPRE Solutions, or to experience the company's pioneering video compression technology, visit


Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Reform Act of 1995. Forward-looking statements made by ESPRE Solutions, Inc. are not a guarantee of future performance.

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