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Summary:

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, […]

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.

Other paid video startups include Zipidee (our coverage) and the Open Television Network (our coverage). iTunes is the market leader.

Please note: True Ventures is also the lead investor in NewTeeVee’s parent company, GigaOM.

  1. [...] but I didn’t.  Frankly, I think New Tee Vee’s Liz Gannes was being too kind in her post, maybe it’s because their VC True Ventures led the round in Mindbites.  Not sure if that is [...]

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  2. [...] noticible that they launched such business where iTune and youtube are market leader. (Reference here) Isn’t everything on the Internet trending towards free? (Extra reading: Free! Why $0.00 Is the [...]

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  3. Good to see others agree that not every business should be based on an advertising model. While Zipidee is much, much, much more than instructional content, we do have the largest pay for library in the area, so it’s interesting we always get lumped in to other folks in this space. Zipidee (spelled with only one “p” – btw) serves health and fitness, action sports, anime, and all special interest pay for content. good luck to mindbites.

    check out http://www.zipidee.com to experience our digital marketplace

    Henry Wong, CEO Zipidee.com

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