Online video has been growing exponentially over the last few years. And while digital video advertising is a burgeoning marketplace, one area where video severly lags behind is in search. Even as real-time data finds its way onto search engines, the growing cache of online video content exists almost outside the reach of search.
That’s something that startup SpeakerText is hoping to change. The company has created technology that links transcripts to video, making it easier to watch, track and search that content. The company began last year with a budget of $4000 and an engineering team paid with iPhones. Before even launching a product, the company has corraled Meebo founder Seth Sternberg as an advisor and peaked the interest of venture capitalist Fred Wilson.
The company is launching tonight at New York Tech Meetup. I caught up with SpeakerText founder Matt Mireles to talk about his hopes for SpeakerText, how efficient video search will be here within five years and why he’s not worried about competing with YouTube.