Eisner, Time Warner Invest in Veoh; Raises $12.5 Million

Another day, another online video sharing funding, only this time some big names, and a relatively big amount: Veoh Networks, a San Diego based online video upload/sharing, has closed a $12.5 million second round. Investors included Michael Eisner, former CEO of Disney (through his new venture firm Tornante Company); Time Warner Investments; Spark Capital; along with existing investor Shelter Capital Partners. Eisner, along with Todd Dagres, managing partner of Spark Capital, will join the board.
Veoh is YouTube-like in functionality, uses Flash, uses P2P for delivery, but also allows download into the computer, iPod and PSP. The company is headed/founded by Dmitry Shapiro, a technologist who created the P2P security software at Akonix, which manages applications such as BitTorrent and Grokster.
: Veoh is in talks with TV networks about distributing their content online, said Dmitry Shapiro, the company’s founder and CEO. For now, the site offers public domain shows and movies and content contributed by users.
Variety: While Time Warner hasn’t outlined specific plans to work with Veoh, integrating it into AOL or using it to distribute Warner Bros. content would both be natural moves.
Also read this post by Om for some tangential perspective: “Guba, Veoh Clean Up Their Act
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