IWidgets is trying to help media companies (and anyone else) easily distribute videos and other content through embeddable widgets on social networks. Although there are many create-your-own widget services these days, the company has worked to differentiate itself by integrating widgets into social networking features such as news feeds on Facebook. The company has done well enough that its seed backer, Opus Capital, has led a first round of $4.1 million in venture funding in it, alongside University Venture Capital.
The San Francisco company has been making money through syndicating professional video content, among other methods. In September it began syndicating clips of CBS shows in MySpace; iWidgets gets paid when users click on ads that appear before or after a video within an embed. Rivals in the advanced DIY widget-making business include Splash and Sproutcast, but both have moved towards for-pay models, as the blog Sexy Widget notes.