Blog Post

Seesmic Raising More Money

Seesmic, the San Francisco-based video startup led by French serial entrepreneur Loic Le Meur, is raising additional funding from entrepreneurs and angel investors. Many people have accurately described the company’s current project — which it says is in “pre-alpha” stage — as a “video Twitter.” New investors include Mike Arrington, Dave Winer, Martin Varsavsky, Ron Conway, and “a billionaire named Steve,” according to a video Winer posted to Seesmic. Arrington announced his part in the round in a recent TechCrunch blog post.

Le Meur said in an email that he did not want to disclose details of the round as it had not yet closed. We had previously confirmed that the company raised its first round from Atomico, Skype/Kazaa/Joost founders Niklas Zennstrom and Janus Friis’ fund. We are working on getting details of the amounts of the various investments.

Le Meur wrote,

We have about 10 investors in Seesmic and the documents are circulating now, it is not 100% signed (even though the largest investment, from Niklas and Janus that you already announced is there…)

Seesmic showed off what it’s up to at our NewTeeVee Live conference, giving us the occasion to take the service for a spin and write up a review. The company is keeping a daily videoblog about its progress; here’s a clip about NTV Live:

9 Responses to “Seesmic Raising More Money”

  1. Steve Elbows

    Well when it comes to blog ethics, I think new media expands the possibilities for ethical conflicts and corruption no end, and Im pretty sure we will witness some scandals in the future. The ability for readers to comment is blogging’s main guard against rampant corruption in my opinion. There will be plenty of false alarms, but its very good for writers to have to address these issues via conversation once in a while, even if they are squeeky clean themselves.

    As for this story, the names involved and the comparison to twitter, a previous blog hype wonder, makes this newsworthy I suppose.

    Im certainly looking forward to seeing whether a twitter-like approach to communication, blended with video, is compatible with human nature. For whilst video use has grown a lot in recent years, I still think of how video-phones have never really caught on so far, stuff like that.

  2. ok – i must have read it wrong then, as i thought it said the round wasn’t closed and they were still looking.

    As a side note and unrelated to this comment – but relevant: this is where the blogosphere loses credibility when you get bloggers investing in companies and then fueling their popularity by writing about them. Even if it is disclosed, it is an inherit conflict of news ethics – how can you write unbiased reviews when you are personally invested?

    I really, really hope NewTeeVee and GigaOm don’t go down this path. I enjoy reading and commenting here every day. Being based in LA, i used to read Variety every day (particularly when i worked at Sony Pictures), and NewTeeVee has replaced that. :)