Founded in 2001, the software company offers a "dummy-proof" automatic video editing tool designed for the consumer market. Once described by a magazine as muvee's "secret sauce", the software enables pictures, video and music files to be stitched automatically, without user intervention.
muvee Technologies
The company was spun off from Kent Ridge Digital Labs, now a part of statutory board and research company A*STAR, with a team of eight people, which has since grown to some 90 employees.
Headquartered in Singapore, muvee has expanded its global presence and has offices in Lynbrook, New York, and representatives in Japan and Korea. It counts Hewlett-Packard, Sony, Nikon and Dell Computer amongst its OEM (original equipment manufacturer) customers.
More than 50 million copies of muvee's flagship product autoProducer, shipped through its channel partners, have been sold into over 100 countries, according to Singapore's Media Development Authority.
muvee started with two rounds of solo venture funding in 2002 and 2004. The first round of funds came from Vertex Venture Holdings and the second from Walden International Investment, which muvee explained, was raised for expansion plans, and not to cover operating costs.
"In fact, we haven't even had to touch the second round of money as we continue to be cash flow-positive," Pete Kellock, muvee's founder, told ZDNet Asia. "We have been profitable since our third year of operation in 2004, doubling revenue year-on-year."
Speaking on the Web 2.0 phenomenon, which some say may play out to be the next Internet bubble, Kellock noted that "fashions come and go" but "competitive advantage" is the way to weather any storm from a bust.
"If you're creating something useful to large numbers of people and hard to copy, anytime is good to get started," said Kellock, adding that there is strong value in finding something unique to create.
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do you have an agent in Australia? Can i buy this on disk as i have dial up it would take too long to download. i am rather interested in your software if there is a way to get it. Bazza
Posted by Barry Young on Monday, January 14 2008 07:41 PM