At the Web Video Summit yesterday, dotSUB CEO Michael Smolens pitched VantagePoint Venture Partners' Duncan Davidson, ThinkEquityPartners' Anton Wahlman and Venrock's Eric Copeland.

I've summed up Smolens' original pitch and some of the question and answer period dialogue. Some are quotes and others are my best attempt at paraphrasing.

dotSUB - Provides closed captioning from video in all languages. The percentage of growth outside English language area is faster. The browser based tool allows captioning for hearing impaired in any language. Those files are viewable and embeddable anywhere on the web to search through. All of that is done automatically after they are manually translated. Used by Mittal Steel during its acquisition of steel companies around the world to meld the company cultures.

Venrock: Is this an automated translation?
No. I’m hiring freelance translators. Just hired a CEO coming from a large translation company as the CEO of our company.

Venrock: How do you get paid?
Paid on a basis of x words per dollar. Cpm, license or revenue share license. Functionality can be embedded in other video players.

ThinkEquity: How many employees do you have now?
6 on staff

VPVP: I think this is fantastic. I love what you are doing. I have a company doing things from cell phone to web that would love this. Simple question: Is there a venture deal in this?
We've been contacted by telcos to integrate our functionality in set top boxes and mobile phones. This is a for profit business that if we execute well has a chance to make a lot of money. Does that answer your question?

For more on the Web Video Summit, see:
Alan Meckler
Web Video Summit

Tags: dotsub, webvideosummit, webvideosummit2007, video, vc, venture capital