The NewsMarket Raises $3 Million: The NewsMarket, a web-based video distribution company, has raised $3 million in venture capital funding from investors such as Ascend Venture Group (lead), New York Community Investment Company and CEI Ventures. This is among the very few pure-content venture fundings this year.
NewsMarket charges fees to corporations to put their video content on NewsMarket’s Web site. It distributes these videos in digital format to media entities including CNBC, ABC, Bloomberg, NY1 and others. According to a story in TheDeal.com, the New York-based company reported $400,000 in revenue last year from more than 30 customers including Oracle Corp., Motorola Corp. and DaimlerChrysler.