Pitching the next great idea to prospective business partners, investors, service providers and fellow entrepreneurs just got easier with Vator.tv—a new venture that combines online video and networking. Based on the proverbial elevator pitch—the notion that you should be able to sum up a new business venture in the few minutes it takes to ride an elevator—Vator.tv is an online marketplace for new ideas. “Anyone, across all industries, at any stage, can share ideas, products, services and businesses with the rest of the world, mainly through video.”
Here’s how it works: users sign up for a free account. They then create pitches for their ideas, projects or businesses in a rich media environment by uploading video, images, PPT or PDF files. They can choose to share their pitches with a personal network or with the entire Vator.tv community. Users build their networks by inviting friends to join or browsing through other ideas and connecting with like-minded people on the site. The website includes tips on creating compelling pitches, such as how to pack the most punch into a three-minute video clip.
Vator.tv’s revenue will likely stem from advertising and sponsorships. Launched in June 2007, Vator.tv has some big names behind it, including angel investors Peter Thiel, co-founder of PayPal, Richard Rosenblatt, former Chairman of MySpace, and Georges Harik, a former Google executive who helped build Google’s AdSense technology. What’s more, the company is already putting its money where it’s mouth is by hiring a Pakistani group of web developers who won the business through their very own video pitch. Another promising application of video technology in a Web 2.0 environment, Vator.tv is one for entrepreneurs and investors to keep their eyes on.