RealNetworks invests in social video service ClipSync |
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RealNetworks invests in social video service ClipSync
RealNetworks Inc. is investing in ClipSync, a San Francisco startup with a social media platform that allows viewers of online video interact with fellow viewers.
ClipSync has a SuperPass subscription service that lets viewers watch the same video content at the same time while chatting among themselves. ClipSync has a partnership with CBS that is tied to the television series Big Brother.
Details of RealNetwork's investment in ClipSync were not disclosed.
RealNetworks launched a partnership with ClipSync in 2010. RealNetworks also has focused on mobile phones and cloud computing efforts as the company seeks to continue to restructure and reposition itself after a bumpy ride.
In 2010, the digital pioneer restructured its business and reduced its workforce by a third. The company also had a turnover in the CEO spot earlier this year.
RealNetworks executives say they expect one more quarter of declining revenues before reaping the results of new products focused on cloud storage and social games.
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