San Francisco - Vator.tv, a site that allows entrepreneurs to upload videos of an "elevator pitch" for their business idea, has raised an undisclosed sum of new funds, VentureBeat reported.

Investors included former PayPal CEO Peter Thiel, former Intermix CEO Richard Rosenblatt, former Google engineer Georges Harick and Matthew Hill.

Vator.tv was started by Bambi Francisco, a former columnist with Dow Jones' MarketWatch who resigned to work full-time on the venture.

Francisco was also criticized by some as having a conflict of interest for reporting on several companies that had posted pitches on Vator.tv, as well as several that had financial ties to Vator.tv investor Peter Thiel.

Related Links:
http://tinyurl.com/ywk6kd (VentureBeat)

http://tinyurl.com/2k2s9v (CNET)

http://www.vator.tv