Today we made three big announcements:
1) We raised $16.2 million in a Series B financing round that was lead by America Online, Inc., IAC/InterActiveCorp, The Hearst Corporation, and Allen & Company LLC as well as our existing venture partners Accel Partners and General Catalyst Partners.
2) Barry Diller, CEO of IAC/InterActiveCorp and Chairman of Expedia, Inc. joined our board of directors.
3) We signed a ground-breaking syndication and distribution agreement with AOL.
Not surprisingly, there has been a great response from the industry (see the links below for some of the coverage). There are a few things about these announcements we think are really important. First, is that the broader Internet and media industry is investing in our vision for open Internet TV. This is great news for both publishers and consumers who are excited about a world where video programming is broadly accessible through the Internet.
In practical sense, the agreement with AOL reveals one of the ways we plan to give publishers very powerful means to build their Internet TV businesses by leveraging the distribution that AOL.com can provide to reach consumers and ultimately to make publishers money. We very much believe that Internet syndication, whether it's to a major web destination like AOL.com or a network of smaller affiliates is going to be one of the defining characteristics of Internet TV.
Finally, the capital and opportunities that come through these agreements are going to give us an even bigger launching pad to do what we’re really excited about: making publishers, affiliates and advertisers successful while giving consumers access to a new universe of content.
On that front, we also started our commercial preview this week. If you’ve got video content and you want to participate, make sure you’ve filled out our publisher interest form. We’ll be sending out more invitations over the next few weeks.
A Few Coverage Highlights
Diller's IAC, AOL to Invest In Web-TV Company
Wall Street Journal (subscription required)
Online Video Service Pairs Up With AOL