Qumu Corporation

Qumu Corporation provides an enterprise video platform that creates, manages, secures, distributes and measures the success of live and on-demand video within the enterprise. Common use cases for the company’s products include executive webcasts, virtual events, employee collaboration and training. The Qumu platform is offered in three implementation types: cloud-based software-as-a-service, on-premises, and hybrid. Originally focused on Global 2000 companies with high security, reliability and global video delivery requirements, in 2020 Qumu began providing its SaaS products to small and medium enterprises as video became core to operations in smaller businesses. The company’s customer base includes organizations in six verticals markets: banking and finance, health and life science, professional services, manufacturing, telecommunications, and government.[1][2]

Qumu Corporation
TypePublic Company
NASDAQ: QUMU
IndustryComputer Software
Founded2002
HeadquartersMinneapolis, Minnesota, United States
Websitewww.qumu.com

Early history

Qumu was founded in 2002, when Yahoo purchased the dot com-era search engine company Inktomi.[3] As part of that transaction, Yahoo received a technology for managing and publishing video assets called Media Publisher, originally developed by eScene. Two entrepreneurs and former eScene executives approached Yahoo with an offer for the Media Publisher product.[4] They spent the next six years developing it into an enterprise video platform and renamed the company Qumu in 2008.[5]

In 2014, Qumu acquired London-based video platform provider Kulu Valley and rebranded their video platform as Qumu Cloud. This acquisition allowed Qumu to diversify the deployment types it could support beyond the corporate firewall, and to install its first hybrid enterprise video deployment, combining its on premises platform with its new cloud platform.[6]

In October 2015, Qumu named Vern Hanzlik President and CEO.[7] Hanzlik was a founder of content management technology company Stellent, which sold to Oracle for $440 million in 2006.[8] Since 2015, Qumu has expanded to Europe, Asia and the Middle East. Over the last few years Qumu has been named an enterprise video market leader by analyst firms including Gartner, Frost & Sullivan, Aragon Research, and Wainhouse Research.[9][10][11][12]

Recent History

In July 2020, Qumu appointed technology executive TJ Kennedy as Chief Executive Officer, to help the company take advantage of growth in video usage due to the COVID-19 pandemic and the simultaneous growth in a new generation of video conferencing solutions, such as Zoom and MS Teams.[13]

In September 2020, Qumu launched its Zoom app, targeted to organizations needing to expand the capabilities of the video conferencing app with Qumu’s platform for live streaming events, video management and added security.[14] The company also introduced low-cost options for small and medium-sized organizations, along with cloud subscriptions that could be configured and purchased online.[15][16]

In November 2020, Qumu reported a 400% increase in customer usage of its cloud platform from the beginning of 2020.[17]

References
  1. https://qumu.com/en/about-qumu/
  2. https://ca.finance.yahoo.com/news/qumu-redefines-self-streaming-high-131500494.html
  3. Krazit, Tom (December 23, 2002). "Yahoo buys search firm Inktomi for $235M". IDG News Service. Retrieved 13 November 2020.
  4. https://www.businesswire.com/news/home/20030304005342/en/Media-Publisher-Inc.-Launches-Company-Completes-Product-Acquisition-From-Inktomi-Corp.
  5. https://www.globenewswire.com/news-release/2008/02/01/1058797/0/en/Media-Publisher-Changes-Company-Name-to-Qumu.html
  6. Smith, David. "Qumu Extends Market Reach with Kulu Valley Acquisition". Aragon Research. Aragon Research. Retrieved 13 November 2020.
  7. Kennedy, Patrick (October 20, 2015). "Business ReporterQumu Corp. names Vern Hanzlik CEO". Minneapolis Star Tribune. Retrieved 13 November 2020.
  8. https://www.oracle.com/corporate/pressrelease/oracle-buys-stellent-110206.html
  9. https://www.businesswire.com/news/home/20181203005235/en/Qumu-Named-a-Leader-in-2018-Gartner-Magic-Quadrant-for-Enterprise-Video-Content-Management
  10. https://www.marketscreener.com/quote/stock/QUMU-CORPORATION-14281813/news/Qumu-Wins-2018-Frost-Sullivan-Award-for-Competitive-Strategy-Innovation-and-Leadership-26314575/
  11. https://apnews.com/press-release/pr-businesswire/0a5a1be509644ddd87e35062da7ef61f https://www.yahoo.com/lifestyle/qumu-named-leader-2019-aragon-141500480.html
  12. https://innovationsoftheworld.com/qumu-enterprise/
  13. Kennedy, Patrick (September 8, 2020). "Minneapolis video software firm Qumu has new CEO as product takes off". Minneapolis Star Tribune. Retrieved 13 November 2020.
  14. https://www.uctoday.com/collaboration/team-collaboration/qumu-supports-self-service-zoom-event-streaming/ Ref: https://money.yahoo.com/qumu-redefines-self-streaming-high-131500494.html
  15. https://www.marketwatch.com/press-release/qumu-redefines-self-service-streaming-with-high-value-low-cost-offerings-for-small-and-medium-sized-organizations-2020-10-27?siteid=bigcharts&dist=bigcharts&tesla=y
  16. https://money.yahoo.com/qumu-unveils-build-price-tool-133900141.html
  17. https://www.nasdaq.com/press-release/qumu-reports-third-consecutive-quarter-of-record-cloud-video-usage-as-global

Official website

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