SOURCE: StudioNow

June 14, 2007 10:00 ET

StudioNow Raises $1.5 Million Initial Financing; Hires Key Executives

Pioneering Online Video Editing Company Enables High-Quality, Low-Cost Personal and Professional Videos

NASHVILLE, TN--(Marketwire - June 14, 2007) - StudioNow, the innovative online video editing company (www.StudioNow.com), announced that it has raised $1.5M in funding. Led by Claritas Capital, the investment also comprised of several successful technology entrepreneurs including Fred Goad and Jim Kever, original founders of Envoy, a precursor to WebMD. Proceeds will be used to expand marketing, technology development and operations. The company also announced several executive appointments, filling out its management team.

"Since our beta launch in March, StudioNow has achieved an impressive increase in market awareness and customer adoption," said David Mason, CEO and Co-Founder of StudioNow. "These early results have proven the StudioNow concept, where consumers and small businesses create high-quality, low-cost videos by utilizing the StudioNow Editor Network. We are now positioning the company for rapid growth and expansion by scaling up our operations and expanding our services."

"The addition of Claritas Capital adds invaluable experience to our Company," added Mason. "And, the new top talent on our management team will enable us to ramp our marketing, sales and operations even faster to encourage and meet increased demand for our services."

The executive appointments announced today include:

--  Doug Marrs, Vice President of Marketing/Sales/Business Development,
    comes to StudioNow with nearly a decade of online retail experience at
    Buy.com having separately held positions as vice president of marketing and
    vice president of sales and merchandising.
    
--  David Corts, Chief Operating Officer, contributes a proven track
    record of founding and managing successful ventures in the media and
    technology space. David was founder and CEO of Impulse Radio and a founding
    member of @Plan, which completed its IPO in 1999 and was later sold to
    DoubleClick.
    
--  John Wallace, Director of Marketing/Sales/Business Development, brings
    combined experience in video production and online community having
    previously served as director of marketing and communications for The
    History Factory, a heritage-based communications firm, and manager of
    content and community for Buy.com.
    
--  Patrick Altman, Principal Software Engineer, joins StudioNow with over
    seven years of combined software development and systems architecture
    experience for companies like WebMD, AIM Healthcare, and HCA.
    
Founded in January 2007, StudioNow has created a new era of video production by directly connecting consumers with expert video/movie editors through the StudioNow Editor Network. This first-ever web-based community, which includes major-network TV and Hollywood feature-film professionals, enables customers to transform their digital images, photos and videos easily and affordably rather than investing time and money in complex video-editing solutions. Customers simply upload their video and photo images to www.StudioNow.com. Within 48 hours the project is ready for review and purchase via the Web site. Video editing project prices start at $19.99 and increase based on editing time, experience of editor and amount of material submitted.

About StudioNow

StudioNow is the first web-based, virtual community of freelance video/movie editors and directors available 24/7 to provide Hollywood filmmaking expertise and editing services to its users. The company transforms digital photos and videos into high-quality, enjoyable content in an efficient and affordable manner. The StudioNow vision is to make life more entertaining, creative and enriching by empowering individuals, artists and businesses. For more information, please go to www.StudioNow.com.

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