NEW YORK, NY--(Marketwired - Oct 17, 2013) - Magnify Networks today announced that it has acquired the video curation website #Waywire.com, and that acting #Waywire CEO Sarah Ross will join the Magnify.net Board of Advisors.
In making the announcement Magnify.net CEO Steven Rosenbaum said: "#Waywire has a great vision and passion for bringing social video to a rapidly growing market segment in need. Magnify has pioneered high quality video curation and together with #Waywire's user-created video Wires, we will offer consumers and enterprises something very unique in the marketplace. Magnify.net's technology combined with the #Waywire.com public site will create a consumer-facing video curation powerhouse."
Magnify's consumer brand #Waywire.com will include one of the largest collections of curated videos on the Internet. #Waywire.com includes multi-topic channels, social media #Wires and Pro#Wires of branded content. #Wires curates trending content from YouTube, Reddit, Twitter and other social media. Pro #Wires includes branded content including Vogue, Wired, Car & Driver, Sports Illustrated, NBC News, Engadget, Mashable, Vice, Field & Stream and others.
#Waywire will become Magnify's consumer brand along with its already successful Magnify brand focused on enterprise customers like the AARP, Time Out, Silicon Valley Bank and New York Magazine.
Joy Marcus, the former GM US of Dailymotion, and now a Managing Director at Gotham Ventures said, "The proliferation of web video is overwhelming for users who often can't discover content that is meaningful or delightful to them. Magnify.net provides innovative solutions for curation with partners like Time Out, AARP, Lincoln Center, and New York Magazine. #Waywire, where I'm an angel investor, allows users to curate the web for others by establishing their own video identities and 'wiring' videos and video collections. I'm excited to be a part of the marriage of the two companies."
According to Howard Morgan, First Round Capital partner who is a #Waywire investor, "The vision of great curation, exemplified by Magnify.net's founder, and focus on sharing key videos with others through #Waywire's wiring mechanism, will greatly further the shared vision of having users quickly discover videos to help them understand issues of interest to them, whether news, social issues, topics they want learn, or just great entertainment. This is a powerful combination."
The Magnify.net CEO said to expect a growing product offering. "With #Waywire, we can leverage our platform, and our deep relationships with content partners, to bring #Waywire users a powerful new set of tools to organize, engage, and share web video" said Rosenbaum
The Magnify.net platform currently provides patented video curation and discovery of video for more than 90,000+ publishers, ecommerce sites, and communities. The Magnify.net curation technology is protected under U.S. Patent # 8,117,545
Waywire is a social video network that lets you discover, create and share videos that matter to you. Unlike video hosting sites, members of the #waywire network can pull content from anywhere on the Web for their collections. Content from more than 200 news, opinion, entertainment, lifestyle and sports publishers is currently available. #waywire directly curates more than 40 hours of fresh programming from trusted voices every day. Angel and seed investors include First Round Capital, Eric Schmidt's Innovation Endeavors, Linked In CEO, Jeff Weiner, Oprah Winfrey, and Troy Carter.