An online network of 1,500 newspapers, TownNews.com said March 9 it hired San Diego-based VMIX to upgrade its online video platform and generate more ad revenue. Terms of the deal were not disclosed.
The companies said the changes will give advertisers more ways to engage online newspaper customers and allow users to post their own video content on the Web sites by computer or cell phone. All of this will increase traffic as well as time spent on the sites, the companies say.
VMIX is a software-as-a-service provider whose platform allows clients to easily upload and manage videos and photos. Its other clients include Tribune, McClatchy, Lee Enterprises and Warner Bros/Telepictures.
The company reported in February that it had doubled its growth in 2008 and was on track to double again in 2009. VMIX has raised $21.5 million in two funding rounds , the first in early 2005 and the second in November 2007 , led by Mission Ventures and Enterprise Partners. It makes its money by charging license fees to customers. Some 85 percent of customers are media entertainment companies.
The company has 45 employees, up from about 40 employees last year. Many of them are from San Diego technology companies.
TownNews.com is majority owned by Lee Enterprises, which owns the North County Times and other newspapers.
, Ned Randolph