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ZeeVee Inc. is turning nearly half its attention away from its video distribution hardware business to a new product line -- a Software-as-a-Service (SaaS) product the company announced in a press release this morning. It represents a shift in strategy for ZeeVee: rather than selling an over-the-top (OTT) video portal direct to consumers, the venture-backed company is aiming its new product, called Zinc.TV, at cable companies and others with video assets and an established customer base. The white label Zinc.TV is now in a testing phase with three customers, one in the U.S., one in Europe, and one in Mexico. A spokesman declined to name the customers.
Littleton-based ZeeVee’s existing hardware product, the ZvBox, is sold to restaurants, casinos, and hotels with cable plants in place and a large installed base of high-definition television screens. The box takes content from online and traditional television sources, and distributes it to those screens. Spokesman Dave Penny said that line of business is profitable and growing.
The company’s head count of about 28 are split nearly 60-40 between the ZvBox and the new Zinc.TV products, respectively.
Founded in 2006 as Zazzle Technologies by former Tatara Systems Inc. executive Jeremy Greene, former Sun Microsystems Inc. executive Stephen Metzger, and former Matrix Partners venture capitalist Andrew Marcuvitz, the company adopted the ZeeVee name in 2008. It has raised $16 million from investors including Alpond Capital of Lincoln and JLL Ventures, a private equity firm founded by ZeeVee director and former Drexel Burnham Lambert managing director Paul Levy. Its last round of investment came in 2008. Marcuvitz is now a partner at Alpond Capital.
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