Greystripe Founders Invest $5M in YesVideo to Tackle Our Biggest Technology Pain Point

Michael Chang and Andy Choi to lead the movement for digitizing and sharing vintage video online

(SANTA CLARA, CA) July 12, 2012: Today YesVideo, the global leader in video digitization and sharing, is announcing that Greystripe founders Michael Chang and Andy Choi have invested $5 million and accepted key positions in the company. Chang is now serving as YesVideo's CEO & Board Director, and Choi is Chief Technology Officer.

YesVideo's focus is on transferring personal videos from every vintage format (VHS, 8mm film, Hi-8, etc.) to DVD and digital online format. The new investment will help YesVideo deepen relationships with national retailers, increase consumer awareness and sales, and build out new products to help people share their personal video and photo memories in the cloud.

"What to do with mountains of old family footage locked up in film and tape is a huge consumer pain point, and one that the technology industry has struggled with as well," says Michael Chang of his move into the space. "We realized this is a massive and overlooked market opportunity that we couldn't resist jumping into. YesVideo is a pioneer in this area, and the only company in the world to have created a massively efficient operation that can easily process over 6000 physical videos per day. Our plan now is to scale our digital products by unlocking various sharing opportunities - via Facebook, Twitter and YouTube, and by building out our editing tools."

YesVideo has received eleven patents in the area of digitizing and indexing video and photo footage, and is using those patents to deliver top-notch services that solve the biggest pain point in technology – how to transfer and share those vintage videos efficiently and easily.

Personal video capture is growing at explosive rates and cloud services have not kept pace in terms of ease of use and pricing. YesVideo aims to solve these issues by making it super-simple to preserve video - just mail it in or drop it off at any of its 34,000 retail partner locations nationwide.

YesVideo then transfers the video / images digitally into their secure, cloud-based storage and sharing service where customers can store, view, edit and share all of their content through email or social media services. The originals are then shipped back to the consumer. The entire process takes less than three weeks.

As old video tapes and 8mm reels are literally turning to dust, Americans are losing footage of cherished moments like weddings, birthdays, babies' first steps, and graduations. Given the quick degradation rate of vintage media, consumers need YesVideo to ensure their memories last throughout their lifetime and for future generations – not just through the lifetime of a VHS tape.



"We estimate that there are hundreds of billions of personal video moments locked up on old vintage media just waiting to be discovered," says Andy Choi, YesVideo's new CTO. "Our technical challenge is to make these invaluable memories available on mobile, online, and through connected televisions. Our products are delighting our customers by allowing them to unlock, edit, and share their most precious memories."

Michael Chang and Andy Choi first joined forces to co-found Greystripe, one of the world's largest mobile advertising networks, which was acquired by ValueClick in 2011 for $70 million.

YesVideo transfers video and images from the following formats into cloud-based storage and into DVDs:

Video: VHS / Beta (NTSC), VHS-C, Mini DV, Hi-8, Digital

Movie film: 8mm, 16mm, and Super-8

Individual photos and albums

Slides and negatives

Memory cards / USB drives

For more information, please visit www.yesvideo.com.

About YesVideo

YesVideo is the global leader in video transferring and sharing. The company's patented technology allows them to efficiently transfer personal videos at scale. Customers may then view, edit and share their videos in the cloud. YesVideo has unlocked billions of classic family video moments and life events for 7 million customers already.

Consumers may drop off their personal film, prints and slides and photo albums at one of YesVideo's 34,000 retail locations, or online at YesVideo.com.