Brightcove Raises $59.5M
Well just yesterday we were talking about Venice Project Joost, a internet TV startup that created awesome buzz across the net, specially in web 2.0 arena. Today’s news is Brightcove raises $59.9M in Private Financing for Internet TV Company. Looks like this year might be the year of Internet TV, as we saw last year was blog networks.
Brightcove announced today the final round of $59.5M strategic funding round. The coolest part is there are number of big shot companies like-The New York Times Company, AOL and Morgan Stanley was among the investors. Jeremy Allaire, Brightcove founder and CEO said-
This investment in Brightcove will enable us to grow our business at a critical juncture in the adoption of Internet TV,…….With the new funds we will be expanding internationally, deepening our service offering to give media partners better tools to distribute and monetize video online, and empowering consumers to interact with that content in exciting new ways.
This a nominal amount of funding considering they array of there partnership, British Sky Broadcasting (Sky), Discovery Communications Inc., Dow Jones & Company, Inc., MTV Networks, The New York Times Company, Reuters, Sony BMG, Time Life, Warner Music Group, and Washingtonpost.Newsweek Interactive. So as you can see most of the high roler is there partners. So i won’t be surprised if we see some ore funding in near future.
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