MindBites, a marketplace for instructional video, formally launches tonight with about $1 million in funding led by True Ventures. The company is looking to charge about $1.69 to $1.99 per lesson, handing $1 of that to the instructor. Instructors maintain full ownership of their videos.
So, umm, isn’t everything on the Internet trending towards free? At the very least MindBites will have to compete against the legions of free alternatives. I have to say I am pretty skeptical about this one.
“When people are looking for instructional content, they don’t want to be getting an infomercial, or lead-generation, or taking time to find free content,” was MindBites CEO Jason Reneau’s justification in a call last week.
Austin, Texas-based MindBites was founded early last year and opened its site to the public last October.
Please note: True Ventures is also the lead investor in NewTeeVee’s parent company, GigaOM.