Internet dealmakers looking for inspiration need look no further than the Tech Confidential blog, which has recently covered a handful of Web sites that deliver — at last — on the promises of Web 2.0, leveraging social networking, audio and video file sharing and efficient modern programming techniques to connect like-minded people, create online communities and conduct commerce in a slew of common interests. The best come from people who learned their lessons the first time around back in the Web 1.0 era. Not coincidentally, they have all been given the blessing of — and more importantly gotten funding from — venture capitalists and angel investors.
A hipper digital knock-off of TV’s immensely popular “American Idol,” Music Nation lets the Web 2.0 crowd cull homemade videos to choose those worthy of development. Founders include CEO Daniel Klaus, a music biz phenom who at 18 founded Passion Music Group, an independent Canadian label whose catalog was acquired by BMG Music in 1998, and former DoubleClick Inc. CEO Kevin Ryan. Greylock Partners and Point Judith Capital liked what they heard and invested $5.5 million in January.
Using a similar concept, earlier this week Sportsvite.com, which helps sports and game enthusiasts hook up, announced a deal with the American Basketball Association to use online videos in a talent contest to find the best amateur basketball player. The grand prize winner will suit up for a game with the local ABA team and get an all-expenses paid private tryout. Sportsvite recently garnered $2 million in first-round financing from Grace Drive Management.
TVtrip.com also makes innovative use of online video. Founded by four former execs from Expedia Europe, the online search engine for European hotels features videos so you can check out the rooms, the lobby and the environs before making a reservation. Rather than rely on canned commercials provided by the hotels, TVtrip hired independent professional crews to shoot the videos. TVtrip.com just bagged $4.8 million from venture capitalists Balderton Capital (the London-based arm of Silicon Valley’s Benchmark Capital) and Partech International. —Mary Kathleen Flynn
See more Web sites in related story on j-q.com
See Tech Confidential post on Music Nation
See Tech Confidential post on Sportsvite
See Tech Confidential post on TVtrip.com
Tags:
Web 2.0,
venture capital,
Sportsvite.com and TVtrip.com
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