PodShow Gets $15 Million Venture Capital Investment

PodShow, a startup podcasting network co-founded by former MTV VJ Adam Curry, reportedly is getting an additional $15 million venture capital investment.

According to Thomson Financial:

PodShow inc., which recently raised $15 million in Series B funding. This follows up on an $8.85 million Series A deal from last summer, from Kleiner Perkins, Sequoia Capital, Ram Shiram and Jerry Newman. All four are back this time around, but an undisclosed lead came aboard at a major pre-money valuation step-up. I know lots of firms that it isn’t – NEA, Oak, Spark, Greylock, etc. – but that is only useful if there was a narrower market of potential backers.

Rumors had been floating around the DEMO conference that this deal might get even larger, but Ray Lane of Kleiner Perkins assures me that $15 million is all for now. He also acknowledges that PodShow has become a bit of a VC bellwether for the podcasting market, as its original funding was soon followed by deals for companies like Odeo and Podtech.net. In other words, expect additional podcasting deals to come down the pike shortly. Be interesting to see when the first exits occur…

PodShow’s projects have been all over the map. The new round of investment, nearly double the previous round, suggests that investors are comfortable that some of PodShow’s various ventures will be successful.

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This entry was posted on Thursday, September 28th, 2006 at 7:42 pm and is filed under Audio Podcasting, Making Money with Podcasts, Podcasting Networks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.