StudioNow, the industry-leading online video production company, will become an independent entity operating as a stand-alone business effective immediately. AOL will retain a minority stake in the Nashville-based entity and remain a strategic partner. StudioNow will also continue to be the preferred video production partner for AOL as it has been for the past three years. Private investment firm Claritas Capital will also take a strategic position in the company and provide funding to help grow and expand the business.
David Mason, Chairman and CEO of StudioNow said, "We are excited to be back in startup mode and now have the flexibility and resources to become the largest provider in the online video production and media space. We will continue to innovate and invest in compelling products and services to support the online video and media needs of all of our great customers."
StudioNow has experienced near triple digit revenue growth rates for each of the past three years. The executive management team consisting of David Corts (President and COO), Adam Solesby (CTO), John Wallace (VP of Production), Doug Marrs (VP of Sales/Account Management) and David Howerton (VP of Revenue Operations) will remain intact.