While you were either a) drooling over your new iPad, or b) wishing those that had a new iPad would shut-up already, Google went out and bought a company you’ve never heard of.

What’s pretty cool about Episodic’s announcement of their acquisition is that they admit you’ve probably never heard of them. I’ve seen many acquisition announcements that had me scratching my head and saying out loud, “who are these guys?” Episodic answers that exact question for us:

What is Episodic?
Episodic is a comprehensive platform for broadcasting live and on-demand video to the web or any web-enabled device. The platform lets publishers and marketers host, stream, measure and monetize video content. Content creators, marketers and enterprise customers use Episodic to deliver video to the Web and mobile devices.

Oh, I see. Of course, I can distill that entire answer down to just two words. See if you notice the difference:

…monetize video…

Subtle huh?

But, that’s exactly the reason that Episodic was so attractive to Google. Sure, the live, on-demand, web-enabled, video streaming is nice, but I suspect it was the fact that advertising was baked into the service that attracted Google.

I’d embed one of Episodic’s cool videos and show you how their monetization platform works, but sadly, embedding is apparently something Episodic is not good at.