San Francisco company CastTV has developed a new technology for video searching online, the latest in a wave of start-ups serving the red-hot video industry.
The company was launched by husband and wife Edwin Ong and Alex Vikati, who have done the core work. They’ve outsourced non-core work to overseas contractors, numbering less than ten in all. The couple met at Stanford, built a company called Filefish in 1999 and sold it to Oracle in the sluggish year of 2003. Even then, they made enough money for them to self-fund CastTV thus far, Vikati said.
They’re not looking to raise cash anytime soon, Vikati told us, because they’re more focused on getting revenue from licensing the technology to Internet and traditional media companies. CastTV will launch its own destination site this fall, which will be ad-supported.
CastTV also indexes videos from fee-based services like iTunes. So if you enter Grey’s Anatomy on CastTV’s engine, you will get both the ABC.com site, which is ad-supported and free, and the iTunes version prompting you to pay $1.99.
CastTV is part of Broad Holdings LLC, which is owned by the couple.