Private Equity Likes Viral Video
January 13, 2009
An online video concern known for its excellent political parodies is getting a third round of funding. JibJab, based in Venice, Calif., raised $7.5 million in Series C capital. Sony Pictures Entertainment and Overbrook Entertainment joined Polaris Venture Partners, a previous investor, in the round. The C Series $7.5 million round brings JibJab’s total funding to $17.5 million.
JibJab takes the family portrait holiday card concept to a new level, with “Starring You,” animated videos that users can insert their own images into. More than 35 million Starring You e-cards went out over the holidays, and JibJab’s site got more than 60 million visits.
The company, established in 1999 by Gregg and Evan Spiridellis, rose through the Internet ranks with the biggest viral video of all cybertime with animated cut-outs of President George Bush and Sen. John Kerry (D-Mass.) singing a spoof version of “This Land is Your Land.” During the most recent election, goofed politicians in “Zombie Party.”