Viki (website)

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Viki
Subsidiary
Industry Online streaming video
Founded 2007
Founder Razmig Hovaghimian
Changseong Ho
Jiwon Moon
Area served
Global
Key people
Tammy H. Nam (CEO)
Products Internet television
Services Crowdsourced subtitles
Number of employees
> 50
Parent Rakuten
Website www.viki.com

Viki is a video streaming website based in Singapore that offers on-demand streaming video of TV shows, movies, and music videos from around the world.[1] The company has offices in Singapore, San Francisco, Indonesia, and Seoul, South Korea.[2]

The name Viki is a play on the words video and Wiki, drawing similarities to those companies' use of volunteers for content management.[3] The company won the Crunchie award for best international start-up company in January 2011.[4]

History[edit]

Razmig Hovaghimian, Changseong Ho and Jiwon Moon founded Viki in 2007.[5] Funding for the company originally came from Neoteny Labs, a Singapore start-up fund headed by Joichi Ito, and from the co-founder of LinkedIn, Reid Hoffman.[6] The company moved to Singapore in 2008 to take advantage of generous government backing and the city-state’s role as a pan-Asian hub.[7] In December 2010, Viki exited the beta phase of its software and made its services available to the general public.[5] In September 2013 it was reported that the company was being acquired by the Japanese company Rakuten for $200 million.[8]

Services[edit]

Viki screens premium licensed content in a similar way that Hulu does in U.S. markets.[1] The site then puts the content on one of its channels, and the content can be subtitled by community volunteers.[citation needed] Viki was the first,[according to whom?] and fastest,[according to whom?] platform for real-time subtitling and sharing of videos of all content types.[citation needed]. Community members can subtitle their favorite videos in their preferred languages, under a Creative Commons license using Viki's subtitling technology, enabling individuals to collaborate globally, in dozens of languages at once.[citation needed] The machine translation software developed for the company allows volunteers to translate in up to 160 languages.[1] Viki also syndicates its shows with fan-generated subtitles to partners such as Hulu, Netflix, and Yahoo!, and receives fees and revenue from those distributors.[3][9] Of the approximately 200 language subtitles available on the site, roughly 50 of these are vulnerable or endangered languages.[10]

Business[edit]

In September 2011, Viki debuted a new iPhone app called Viki On-The-Go, allowing users to watch content on their smartphones. The company also partnered with Samsung Southeast Asia that year to develop an Android app.[11][12] Viki.com drew 14 million unique views in August 2011. Viki raised $20 million from Greylock Partners, Andreessen Horowitz, and BBC Worldwide in October of that year.[6][7][12]

In May 2012, Viki announced deals with Warner Music, SEED Music Group of Taiwan, and LOEN Entertainment of South Korea, bringing thousands of music videos to the site.[13] In that same month, BBC Worldwide announced an extension of its relationship with Viki, including a deal to work with the company on advertising.[11]

In July 2012, Viki inked a non-exclusive deal with the Chinese social network Renren, in which Viki would provide a video site for the social network called VikiZone.[12] The deal includes only a portion of the Viki catalog and is offered for free.[14]

In the year following its acquisition by Rakuten (September 2013),[8] Viki went from about 22 million monthly active users with 10 million on mobile to 35 million monthly active users and 25 million mobile users.[15]

Today,[when?] mobile is growing at a rate of 1 million users a month, and is now up to 28 million.[15] As of this date,[when?] the company has a list of partners for sourcing original content, including BBC Worldwide. The company has also signed distribution deals for its original content with Hulu, Netflix, Yahoo!, MSN, NBC, and A&E, as well as TVB in Hong Kong, SBS in South Korea, Fuji TV in Japan and Amedia in Russia.[11]

References[edit]

  1. ^ a b c Holmes, Sam (2011). "Singapore Start-up Sees Gold Mine In Foreign Language TV". The Wall Street Journal (online, October 21). Retrieved 25 January 2013. 
  2. ^ Viki Office Tour - Coolest Places in Singapore: Episode 1 (January 28). 2014. Retrieved 3 December 2015 – via YouTube. 
  3. ^ a b Anon. (2015). "Viki". CrunchBase (online, December 3). Retrieved 3 December 2015. 
  4. ^ Rao, Leena (2011). "Congratulations Crunchies Winners! Twitter Takes Best Startup of 2010". TechCrunch (online, January 21). Retrieved 25 January 2013. 
  5. ^ a b Bertschy, Zac (2012). "Interview: Razmig Hovaghimian, Cofounder and CEO of Viki.com". Anime News Network (online, April 25). Retrieved 25 January 2013. 
  6. ^ a b Holmes, Sam (2012). "Breaking Down Language Barriers - WSJ". The Wall Street Journal (online, September 18). Retrieved 3 December 2015. 
  7. ^ a b Lacy, Sarah (2010). "ViKi Raises $4.3 Million from VC All-Stars to Translate the World's Video". TechCrunch (online, December 8). Retrieved 25 January 2013. 
  8. ^ a b Swisher, Kara (2013). "Exclusive: Japan's Rakuten Acquires Viki Video Site for $200 Million". AllThingsD (online, September 1). Retrieved 3 December 2015. 
  9. ^ Bates, Greg (2012). "Viki Video: 1 Billion Videos in 150 languages Means Never Having to Say Rerun". Programmable Web (online, December 27). Retrieved 25 January 2013. 
  10. ^ Park, Madison (2014). "Can Fans Unravel the Babel of the World's Dramas?". CNN (online, June 10). Retrieved 3 December 2015. 
  11. ^ a b c Rao, Leena (2011). "International Video Site ViKi Debuts iPhone App, Will Partner With Samsung For Android App". TechCrunch (online, September 23). Retrieved 25 January 2013. 
  12. ^ a b c Boyd, E.B. (2012). "Boom Tube: How Viki Is Creating The Global Hulu". Fast Company (online, July 13). Retrieved 25 January 2013. 
  13. ^ Russell, Jon (2012). "Global Music Site Viki Moves into Music After Signing up Record Labels". The Next Web (online, May 24). Retrieved 3 December 2015. 
  14. ^ Lunden, Ingrid (2012). "Viki Climbs The Great Firewall, Signs With ‘China’s Facebook’ Renren For Its First Video Distribution Deal In The Country". TechCrunch (online, July 12). Retrieved 25 January 2013. 
  15. ^ a b Corbin, David (2015). "Razming Hovaghimian, founder of Viki, out as CEO, to lead Rakuten’s global video strategy". Tech in Asia (online, January 31). Retrieved 3 December 2015. 

External links[edit]