Thought Equity wins the award for E-commerce Initiative of the year at the annual Apex Awards.

Denver, June 3, 2004 — Thought Equity, a leader of video management and stock footage licensing services, announced today that the company has closed its series B financing of $7.2 million in angel funding.Thought Equity, the nation’s largest supplier of stock motion footage and production-ready television commercials for cable and broadcast companies, was honored with an Apex Award by the Colorado Software and Internet Association (CSIA) last night at the annual awards ceremony held at the University of Denver’s Newman Center.

Thought Equity won the highly coveted E-commerce Initiative of the Year award given to the company that has developed and employed a successful and well-targeted e-commerce initiative in the past year. The initiative is judged on its ability to effectively serve its intended target market, meet the market’s needs and improve the way business transactions have traditionally been handled.

Thought Equity uses the Internet as the search and delivery mechanism for motion footage. The process to acquire motion footage, either commercials or stock clips, was previously arduous, time-consuming and lengthy, requiring manual searching of physical footage warehouses, research fees, screener tapes, and complex rights management.

The company’s web-based system leverages sophisticated digital asset management capabilities and is powered by advanced search and retrieval technology. An embedded security and rights-management process ensures all clips and commercials are free of usage restrictions . Digital assets are then categorized and searchable according to demographic and descriptive criteria.

For the first time ever, anyone wanting motion footage – TV producers needing a clip for a news program, advertising execs looking for a “feel good” montage, cable companies selling ads to local businesses – can search, preview and purchase whatever they need, instantly, through Thought Equity. “The CSIA Apex Awards honor industry leaders who have made valuable contributions to their customers and the market,” said Kevin Schaff, CEO and founder of Thought Equity. “We’re thrilled that the CSIA has recognized our contribution to the motion footage and commercial production industries. Our goal is to bring Madison Avenue-quality ads to Main Street America through the Internet.”

Tags: Apex Award, The Colorado Software and Internet Association