05.19.2010 11:00 AM
TV Streamer Gets $10.1 Million
NEW YORK: Online professional
content provider blip.tv today
announced closing a $10.1 million, third funding round. Canaan Partners led the
round with existing Boston-based investor Bain Capital Ventures contributing. Blip.tv will use the funding to expand
the independently produced shows it distributes on the Web, its content
services team and its sales force.
“Blip.tv turns five this year, and I couldn’t be happier with our success to
date and our growth plans for the future,” said Mike Hudack,
blip.tv CEO and co-founder. “We started in
2005 with a simple mission: To change the entertainment industry by making
independent show production sustainable and scalable. We’re moving on to the
next phase of executing against that mission, and with help from both Canaan
Partners and Bain Capital Ventures I’m confident that we’ll be successful.
We’re making more shows sustainable every single day, and now we’re going to
accelerate that change even faster..”
The company states that more than “44,000 independent producers visit the
blip.tv show creator dashboard every day
to review statistics, engage with their communities of viewers, manage their
shows, and release new episodes.” The content attracts more than 85 million
video views a month, according to Blip; 85 percent are paired with targeted,
direct-sold advertising from the likes of Pepsi, Chevrolet, Samsung, AT&T,
Scion and Starbucks.
The company previously received a total of $5 million in venture cap from Bain;
the founders of Skype and Paypal and several others.
-- Deborah D. McAdams