Veoh Gets $30 Million To Build YouTube-Killer

Jun 3rd, 2008 | By | Category: General

Internet video startup Veoh Networks today announced that it has raised an additional $30 million in funding. Veoh plans to use the capital to enhance its viewer offerings, improve video discovery, expand its advertising products and targeting capabilities, and extend its services across multiple platforms.

“The world of Internet television has changed dramatically in the past year. No longer limited to short-form video sharing, viewers are now tuning in online to watch long-form, quality entertainment,” said Steve Mitgang, CEO of Veoh Networks. “With a near-infinite universe of content now available online, the future of our industry will be led by those who help viewers easily discover new things they like to watch, enable portability, and provide effective targeting across all types of video audiences and all forms and lengths of content.”

For content publishers, Veoh offers free hosting, lets you publish high-resolution video and can automatically republish your content to other sites, such as YouTube.

In the last twelve months, Veoh has introduced new community and social features for viewers, launched a behavioral ad targeting engine and secured distribution relationships with major content owners, including CBS, Viacom’s MTV Networks and FEARNet. Veoh ended the first quarter of 2008 with 28 million viewers, who spend an average of more than 100 minutes per month at the site.

New investors include Intel Capital, Adobe and Gordon Crawford, senior vice president of Capital Research Global Investors. Existing investors include Shelter Capital, Spark Capital, Goldman Sachs, Michael Eisner’s Tornante Company, Time Warner Investments and Jonathan Dolgen.

Veoh via SVI

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2 Responses to “Veoh Gets $30 Million To Build YouTube-Killer”

  1. [...] 4th 2008 12:32am [-] From: podcastingnews.com [...]

  2. Lucerito says:

    However, right now Veoh is on the international spotlight for blocking access to its videos to around 165 countries. Here is a video that pokes fun and mocks at this new policy.

    http://www.dailymotion.com/cluster/news/video/x5qjbx_veoh-excludes-85-of-the-world_news

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