clipped from newteevee.com

When you’re an itty-bitty company and your first big customer win is CBS, you turn a few heads. And so it is with iWidgets, which makes video applications that are customized for the likes of MySpace, Facebook, iGoogle and other social networks.

CEO Peter Yared’s pitch goes something like this: Traffic to destination sites across the Internet is tracking downward. Everybody’s spending their time on social networks instead. If you’re in the content business, you need to deliver your stuff to where the people already are.

Yared said iWidgets’ advantage over its main competition, Sprout Builder, is that its applications aren’t in Flash, making them more flexible; and over competitors like Clearspring, that iWidgets’ applications are customized for each social network rather than one-size-fits all.