Starting with AffiliateBuzz, we have begun to take a look at some of Momentum Ventures’ past successes. This week we take a look at iReel, an early player in what is now an incredibly well-known and successful industry: online streaming.
What Is iReel?
iReel is a subscription-based, online streaming service. Launched in 2010, iReel was an early player in the online streaming game. Today, the online streaming marketplace is dominated by one company: Netflix. iReel at this time is the second most successful online streaming network. Ultimately, iReel was sold in 2012.
History Of Online Streaming
The popularity of online streaming has risen steadily alongside the performance and commercialization of modern internet connections throughout the 90s and 2000s. Ultimately, streaming hit the masses with the launch of two massively important services, YouTube and Netflix. Youtube was created in 2005 by three former PayPal employees. Originally conspired as a video version of an online dating service, YouTube exploded to become the home of countless online videos that were easily searchable and accessible. Online streaming in the subscription sense was of course popularized by Netflix. Founded in 1997 as a per-per-rental service, Netflix quickly switched to its subscription service offering door-to-door delivery of DVDs. It was in 2007 that Netflix officially launched its online service, which has grown to surpass its original consumer base and become a staple in both technology and culture in general. Little know fact, Netflix continues to operate its DVD and Blu-Ray home delivery service.
iReel continues to operate as an online streaming service, offering a multitude of movies to its subscriber base.
Momentum Ventures will take a look at Summit Services in the next edition of Get To Know Momentum Ventures.