Odemax is run by Jon Farhat, an experienced Hollywood visual effects supervisor and long-time RED collaborator. The full details of the service, and some big name early adopters, will be announced at the upcoming Sundance Film Festival in January, but the basic idea is this; Odemax has set up a cloud-based content video delivery network plus a sophisticated web site (not yet online) for obtaining, uploading, promoting, discussing and controlling content. In the U.S. it has leased bandwidth on a nationwide fiber network. So far, so iTunes/YouTube/Vimeo etc.
The genius bit is that the content is encoded using a new, very high quality delivery codec called (shockingly)