+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
What It Does: Video-sharing tool
Founders: Christopher Savage, 25 (right); Brendan Schwartz, 26
Web Site: www.wistia.com
Based: Lexington, Mass.
Brown University graduates Christopher Savage and Brendan Schwartz started Wistia in 2006 to help filmmakers collaborate online remotely. They quickly expanded its scope, offering businesses of all types help using their videos as marketing and sales tools. "We started when YouTube (GOOG) was launched and changed the game but we found a lot of people…were not taking advantage of video," says Savage. Wistia developed a turnkey application designed to help companies track how people watch videos and respond to them, as well as help sales forces qualify leads and collaborate on training. For the past two years, the pair bootstrapped the business. Wistia now has 100 clients, including Cushman & Wakefield, A&E, and Cirque du Soleil. Fees range from $79 a month to $10,000 a month, depending on the size of the deal and the number of sales reps using the service. Savage predicts the company, which landed a $650,000 round of venture funding in 2008, will have about $1 million in revenue in 2009 and be profitable in the next year and a half.