Veoh Networks Inc. has returned to the well for a new $30 million fourth round that includes contributions from Intel Capital, Adobe Systems Inc. and Capital Research Global Investors senior vice president Gordon Crawford, as well as from existing stakeholders including Goldman, Sachs & Co., Spark Capital, Shelter Capital, Michael Eisner's Tornante Company, Time Warner Investments and Jonathan Dolgen. Intel also announced the news at its
CEO Summit.
Goldman Sachs
led Veoh's $25 million third
round of funding in September 2007, following two prior rounds worth about $15 million combined. A Veoh spokesperson said the company is looking to expand its product and service offerings, with particular emphasis on localization and international growth, improving its targeted advertising systems and distributing its videos to more devices beyond PCs. Veoh
revealed this week that it had blocked access in some countries, knocking out 10% of its user base.
The company relies heavily on professionally produced content to generate ad dollars, although it also offers user-generated videos.
-- Paul BonanosSee post from Tech Confidential regarding Intel CEO SummitSee Sept. 2007 post from Tech Confidential regarding Veoh's third-round fundingSee June 1 post from NewTeeVee regarding international access of Veoh's videos
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