Written by Liz Gannes
Posted Wednesday, March 12, 2008 at 9:08 AM PT

Next New Networks Raises $15M

Next New Networks has raised $15 million in a second round of funding that’s been a long time coming. It was co-led by Goldman Sachs and Velocity Interactive Group and included Spark Capital, Saban Media Group and Bob Pittman.

I spoke with Next New Networks co-founder Tim Shey last night, who said the company has seen its hits soar off the charts lately. After being thrilled to complete 100 million streams last year, the company had 25 million views in January alone, he said. Obama Girl, The Meth Minute, Fast Lane Daily, Indy Mogul and ThreadBangers have developed solid audiences, while shows that didn’t work — like Bride-O-Rama — have been cut from the lineup. The company reported 33 million views in February, and says it has “six-figure” advertising deals in the pipeline.

Next New Networks also announced a distribution deal with AOL. The company raised an $8 million Series A round more than a year ago.

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Topic: Money & Power, Startups

Comments (1)

Your article was absolutely fabulous! Good PR

jfwade2008 — 2:30 PM on March 12, 2008 Reply

Linkbacks (6)

[...] $15 million Series B (3/11/08). Investors: Goldman Sachs and Velocity Interactive Group led the round, with participation from Spark Capital, Saban Media Group and Bob Pittman. [...]

DealProfiles » Blog Archive »… — 10:26 AM on March 12, 2008
[...] New Networks has some $23 million in funding from Goldman Sachs, Velocity Interactive Group, Spark Capital, Saban Media Group and Bob [...]

Next New Networks CEO to Step Down «… — 12:05 PM on June 13, 2008
[...] board on Oct. 1, who was most recently at the marketing and advertising network Seevast. NNN also took $15 million in a Series B round of funding in March, bringing its total raised to $23 million. A company [...]

Veracifier and Pulp Secret Leave Next New… — 7:39 AM on September 22, 2008
[...] is a larger audience than you might expect, given that Fast Lane — from the robustly funded NextNewNetworks — has recently ripped past the 500 episode-mark with incredible viewing [...]

Fast Lane Daily Racks Up Serious Mileage… — 12:41 PM on January 12, 2009
[...] is a larger audience than you might expect, given that Fast Lane — from the robustly funded NextNewNetworks — has recently ripped past the 500 episode-mark with incredible viewing [...]

Fast Lane Daily Racks Up Serious Mileage… — 5:24 PM on January 13, 2009
[...] Indy Mogul and Barely Political (aka Obama Girl), last raised funding in March 2008 — a $15 million Series B round. Last fall the company brought on a new CEO, Lance Podell, to replace co-founder Herb [...]

Next New Networks Reorgs, Reduces, Refocuses… — 12:57 PM on July 15, 2009