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At Least $477 Million Raised By Private Online/Mobile Video Companies In Q1 '11
Private online and mobile video-related companies around the world raised at least $477 million in Q1 '11 providing more evidence of intense investor interest in the space. Of the total, approximately $340 million was raised by international companies, with approximately $137 million raised by U.S. companies. The international total was dominated by Softbank's $250 million investment for a 35% stake in China's Synacast Corporation, which operates the "PPTV" online TV service. The other significant international financing was Orange's 58.8 million euro (approximately $83 million) investment in video aggregator Dailymotion, for a 49% stake.
In the U.S. 15 financings were reported, with almost 80% of the amount collectively raised by 6 companies: SnagFilms ($10M), Auditude ($11M), Kaltura ($20M), boxee ($16.5M), Adap.tv ($20M) and TidalTV ($30M). As has been typical in prior quarters, all of these companies are involved in or rely on online video advertising in one way or another.
Q1 also produced at least 15 online/mobile video M&A deals, the most since VideoNuze began tracking the market nearly 2 years ago. The focus of these deals was varied and occurred both internationally and in the U.S. In the former category, examples included Amazon's acquisition of remaining shares of LOVEFiLM (the "Netflix of Europe"), AOL Europe's acquisition of video distribution network goviral and Prague-based KIT Digital's rollup of KickApps, Kyte and Kewego. In the U.S. some of the noteworthy deals included Cisco's acquisition of video encoder Inlet Technologies, YouTube's buyout of independent video producer Next New Networks, Tremor Media's acquisition of mobile video ad firm Transpera and CBS Interactive's acquisition of online video guide Clicker.
There were also a couple of highs and lows in the miscellaneous category in Q1. A high was Demand Media's successful IPO, raising $77.2M. Demand operates numerous video-oriented properties including eHow, one of the most popular how-to sites. On the low side, ZillionTV, which had reportedly raised $10M from investors including Qwest Communications, filed for bankruptcy as its standalone set-top box/content aggregation play failed to take off.
Following is the list of financings that I tracked during the quarter, the date disclosed and new investors identified if applicable. Links are provided to the companies' press releases, or to relevant media coverage if none could be found (note that I haven't verified media coverage with companies themselves). If I've missed anything or you find an inaccuracy, please post a comment.
U.S. Financings
Miso ($1.5M) - Jan. 4 - Google Ventures, Hearst Interactive Media
Jinni ($5M) - Jan. 5 - Belgacom, Undisclosed connected-TV manufacturer
SnagFilms ($10M) - Jan. 18 - NEA, Comcast Interactive Capital
Vook ($5.25M) - Jan. 18 - VantagePoint Venture Partners, Floodgate
Auditude ($11M) - Jan. 24 - Granite Ventures, Silicon Valley Bank
Celtra ($5M) - Jan. 25 - GrandBanks Capital, Fairhaven Capital
MediaMorph ($2M) - Feb. 1 - Existing investors
Revision3 (Undisclosed) - Feb. 1 - Mark Cuban, other investors
Kaltura ($20M) - Feb. 14 - Nexus Venture Partners
Tango ($8.7M) - Feb. 17 - Existing investors
boxee ($16.5M) - Mar. 1 - Pitango, Softbank
ZeeVee (Undisclosed) - Mar. 9 - Genovation Capital
Newsy ($1.5M) - Mar. 28 - Undisclosed
Adap.tv ($20M) - Mar. 29 - Bessemer Venture Partners
TidalTV ($30M) - Mar. 31 - Existing investors
International Financings
MUBI ($2.4M) - Jan. 7 - Angel investors
Dailymotion ($80M) - Jan. 25 - Orange
Voddler ($8M) - Jan. 31 - Nokia Growth Partners
Synacast ($250M) - Feb. 3 - Softbank
Saffron Digital (Undisclosed) - Feb. 7 - HTC
M&A Deals
Skype acquires Qik - Jan. 4
EchoStar acquires Move Networks assets - Jan. 6
Tata Communications acquires BitGravity - Jan. 11
Amazon acquires remainder of LOVEFiLM - Jan. 20
AOL Europe acquires goviral - Jan. 31
KIT Digital acquires KickApps, Kewego, Kyte - Jan. 31
Cisco acquires Inlet Technologies - Feb. 4
Tremor Media acquires Transpera - Feb. 14
Local.com acquires Rovion assets - Feb. 16
VBrick acquires Fliqz - Feb. 22
Collective acquires Oggifinogi - Feb. 24
Rovi acquires SideReel - Mar. 1
CBS Interactive acquires Clicker - Mar. 4
YouTube acquires Next New Networks - Mar. 7
Collective acquires Web TV Enterprise - Mar. 29
Miscellaneous
Demand Media ($77.2M) - Jan. 31 - IPO
ZillionTV files for bankruptcy - Mar. 2
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Topics: Deals, Financings
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