Video microblogging startup Seesmic Inc. is expected to announce a
new $6 million second round of funding from Omidyar Network and
Wellington Partners. The deal doubles Seesmic's private funding to
date, and follows a $6 million Series A round
announced in February.
Both
investors will be represented on Seesmic's board of directors, but
Omidyar will receive observer status while Wellington will take a full
seat. Seesmic founder Loic LeMeur
joined Wellington as a venture partner in March, while Omidyar founder and eBay Inc. chairman Pierre Omidyar is an enthusiastic
user of Seesmic's service.
Seesmic's microblogging tools allow users to create short video clips that form online conversations. The company
acquired desktop microblogging tool developer
Twhirl in April for an undisclosed amount, but LeMeur says the company is not actively considering other acquisitions. Instead, it will continue to build its platform while adding mobile capabilities and building an international strategy in Europe and Japan, LeMeur says.
As many social media companies do, Seesmic intends to build an audience of a few million users before attempting to generate revenue. LeMeur says it will eventually deliver video AdSense advertisements, add premium services and e-commerce tools similar to television home-shopping channels.
Most
of Seesmic's first-round money came from Atomico Investments, the firm
operated by Skype co-founders Niklas Zennström and Janus Friis, while
the remainder came from a long roster of individuals listed
here. LeMeur won't say who among the previous investors participated in the new round, but says they were all invited.
-- Paul Bonanos
Continue reading below
