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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[...] $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 » Next New Networks on March 12th, 2008 at 10:26 am - Permalink
Your article was absolutely fabulous! Good PR
jfwade2008 on March 12th, 2008 at 2:30 pm - Permalink
[...] 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 « NewTeeVee on June 13th, 2008 at 12:05 pm - Permalink