Video Site Veoh Lands $30 Million in New Funding

Authored by Mark Hefflinger on June 3, 2008 - 11:11am.

San Diego - Veoh, an Internet TV service, announced on Tuesday that it has raised $30 million in its fourth round of financing, from investors that included Intel Capital, Adobe Systems (NASD: ADBE) and Gordon Crawford, SVP of Capital Research Global Investors.

Founded in 2003, San Diego-based Veoh initially operated as a video-sharing site similar to YouTube, but has since sought out partnerships with media companies and begun to focus more on professionally-produced content.

The company, which claims 28 million monthly viewers, also recently shut off access to its site from all but 33 countries, citing a desire to re-focus its resources.

Silicon Alley Insider reported in February that Veoh had been looking to raise $40 million in new financing; Veoh has now to date received $69.5 million in venture capital.

 

Related Links:
http://snipurl.com/2cr0n (Intel Capital announcement)

http://www.veoh.com

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