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Tuesday, June 23, 2009
Backchannelmedia to expand to New York; R&D to stay in Boston
By Rodney H. Brown
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Interactive TV technology company Backchannelmedia Inc. will be moving some of its commercial operations to the New York metro area and launching a research and development unit to be based in Boston.
The company is making the move as part of its commercialization plan for its Clickable TV technology, which allows viewers to “bookmark” something they see on TV and forward it to the Internet, Backchannelmedia officials said, Clickable TV has gone through its beta-stage testing and has completed a successful over-the-air test, the company said.
Company founder Michael Kokernak, who had been serving as co-CEO with Daniel Hassan, will become president of the new R&D unit, BCM Research, which has the mission of developing the next innovations for Backchannelmedia.
According to Hassan, business operations will be split between New York and Boston, with New York starting off as a smaller operation. “Right now we are just going to look at it as a sales office and outreach office,” Hassan said. Backchannelmedia employs 29 workers.
Hassan, who has been chairman of the board as well as co-CEO since 2007, became sole CEO as of June 15. Hassan is son of Fred Hassan, CEO and chairman of New Jersey-based drug giant Schering-Plough Corp.
Moving the company’s commercial operations to New York will give Backchannelmedia proximity to the high concentration of media companies, officials said. Backchannelmedia, founded in 2000, reports it has reached agreements to deploy its technology throughout all LIN Television, Gray Television and Fisher Communications stations, putting Clickable TV in 82 stations and markets at commercial launch.
Hassan said that the company could start reaping revenue from the deals this year. “It could be anywhere for a 6-month period to a 9-month period before Backchannelmedia is looking at getting any revenue from those deployments,” Hassan said.
The privately held company has raised in $15 million in funding to date, according to Hassan, and is about to close on an additional $4 million to help the commercial rollout of Clickable TV. All of Backchannelmedia’s backers have been high-net worth individuals, including Hassan himself. He declined to name any of the others, although said there were approximately 20.
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