Spark Capital Leads Investment in Veoh Networks; Spark Capital Joins Michael Eisner and Time Warner in Backing Industry's First Truly Independent Internet Television Network

Business Wire, April 18, 2006

BOSTON -- Spark Capital today announced that it is leading the $12.5 million Series B financing of Veoh Networks, Inc., the first truly independent internet television network. Spark leads an investor syndicate that includes Time Warner, Michael Eisner and Shelter Capital. As part of the investment, Spark Capital Managing Partner Todd Dagres will join the company's board of directors.

"We are thrilled to have the backing of Spark Capital," said Dmitry Shapiro, founder of Veoh. "Our vision is to establish a new era of television where consumers take center stage. We see Spark as the perfect partner to help us to attain that vision. They have deep understanding and experience across the media, entertainment and technology industries."

Veoh delivers broadcast-quality content via the Internet, using unique distribution technology to allow for unlimited capacity for both long and short form programming. This capability presents consumers with unprecedented choice in video and television content, by enabling anyone - from the largest studio to up-and-coming independents to aspiring enthusiasts - to publish content without constraints of cost, geography or regulation.

"Veoh is fundamentally re-inventing television by enabling broadcasters to reach viewers over a 'frictionless' distribution system," said Todd Dagres, managing partner at Spark Capital. "Their technology will revolutionize how content is produced, distributed, consumed and monetized."

About Veoh Networks, Inc.

San Diego-based Veoh Networks is the first truly independent Internet Television Broadcasting System, able to reach hundreds of millions of broadband-connected viewers throughout the world. Veoh allows content producers from motion picture studios and television networks to independent video producers and enthusiasts to deliver high-quality, full-screen video directly to consumers without financial, geographical or regulatory restrictions found in traditional broadcasting systems. This democratization of video distribution fundamentally changes the dynamics of television, creating unprecedented choice for consumers and a compelling marketplace for content providers and advertisers. Veoh is privately held and backed by leading technology and media investors, including Spark Capital, Michael Eisner's Tornante Company, Time Warner Investments and Shelter Capital Partners. To start broadcasting or watching video with Veoh, vist veoh.com.

About Spark Capital

Spark Capital is a venture capital fund investing in ideas, entrepreneurs and companies building businesses that transform the distribution, management and monetization of media and content. Spark's General Partners are successful natives of the media and technology industries, and have proven track records identifying, and actively building market leading companies in sectors including infrastructure (Qtera, RiverDelta, Aether Systems, Broadbus, and BigBand), networks (College Sports Television, TVONE and XCOM) and content delivery systems (Akamai). Based upon deep relationships in technology and media, investing, Spark Capital is uniquely positioned to provide world-class entrepreneurs and revolutionary companies with the intelligence, connections and resources needed to succeed in today's marketplace. With $260 million in funding, Spark Capital is acutely focused on investment strategies that are at the conflux of content, distribution and technology. To learn more, visit www.sparkcapital.com.