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06.20.2001
Kodak
Invests in Leading Video
Digitization Company,
YesVideo
ROCHESTER,
N.Y. - June 20, 2001 -
Eastman Kodak Company announced
it has invested an undisclosed
amount in YesVideo, Inc., a
leader in converting videotapes
into CDs, DVDs or content for the
Web.
YesVideo
provides an easy and affordable
way for videocamera users to
enjoy, share and preserve their
videos by using patent-pending
scene detection and transfer
technology. The YesVideo service
is available either through
participating retailers or by
mail; consumers can have their
videos converted to CD or DVD in
2 weeks. All CDs and DVDs arrive
in customized cases with pictures
of the most prominent scenes on
the cover.
Under the
terms of the agreement, Kodak and
YesVideo plan to:
- Develop
new products for sale through
Kodak’s distribution
channel
- Leverage
the KodakPicture CD and
PhotoCD products to help merge
digital photography and
digital video applications
- Integrate
Kodak Internet photofinishing
services in existing YesVideo
products.
The agreement
between Kodak and YesVideo
represents another expansion of
the infoimaging industry, which
is driven by the convergence of
images and information
technology. Infoimaging unites
three closely related imaging
markets—services and media,
such as YesVideo, devices and
infrastructure—that enable
people to more easily use images
as a fast and effective way to
share pictures as information,
entertainment or memories.
The investment
was made through the Kodak
Venture group, headed by Ted
Lewis, Director of Digital
Business Development and Senior
Vice President, Eastman Kodak
Company. As part of the
transaction, Kodak will receive
an observer seat on
YesVideo’s board.
"YesVideo’s
technology simplifies the process
of converting standard video
footage into CDs and DVDs, which
will help drive new usage for
pictures—both still and
moving," said Lewis. "This
investment will help fund the
growth of YesVideo and enable the
two companies to leverage each
other’s strengths to spur
consumer use of these products.
It is yet another example of the
new services consumers can expect
to enjoy as the worlds of
information technology and image
science converge."
Based in Palo
Alto, California, Kodak
Venture’s goal is to seek
out and invest in early-stage
companies that possess
technologies of high disruptive
power for Kodak and to create new
companies based on Kodak’s R&D
intellectual property.
"We are
delighted to participate with
Kodak as it leads the infoimaging
revolution," said Sai-Wai Fu, CEO
of YesVideo. "We share
Kodak’s dedication to making
precious memories easier to view
and share. Together, we will help
consumers turn their neglected
homemade videos into CDs, DVDs
and other media that are more fun
to watch and safe from
deterioration."
Eastman
Kodak Company and
infoimaging
Eastman Kodak Company is the
world’s leader in helping
people and businesses take,
share, store and print
pictures—traditional or
digital. Kodak’s sales last
year of nearly $14 billion were
divided between consumer and
commercial products and services,
such as professional and consumer
digital cameras, laser imagers
for radiologists, photographic
films for professionals and
amateurs, digital services for
cinematographers, high-speed
document scanners and aerial
images. Kodak is a leading
participant in infoimaging, a
$225 billion industry created by
the convergence of images and
information technology.
Infoimaging unites three closely
related imaging
markets—devices,
infrastructure and services /
media, such as those provided by
YesVideo — that enable
people to more easily use images
as a fast and effective way to
share pictures as information,
entertainment or memories.
About
YesVideo
YesVideo is the most convenient
and complete service for
digitizing, customizing and
sharing home videos on CD, the
Web and DVD. Sai-Wai Fu, a
pioneer in digital video and
compression technology, founded
the company in 1999. The company
is headquartered in San Jose,
California.
Editor’s
Note: For more information about
Kodak products and
services or infoimaging, please
visit www.kodak.com.
© 2001
Kodak is a trademark of Eastman
Kodak Company.
Please direct
all press inquiries to:pr@yesvideo.com.
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