"How To" Video Site 5min Secures $5 Million First Round

Instructional video site 5min has raised $5 million in a first round financing from Spark Capital. The company, which raised a separate $300k in an angel round from unidentified investors last April, now plans to move its headquarters from Tel Aviv, Israel to New York. The name is based on the proposition that its “how to” videos, which include the proper use of a punching bag and belly dancing, are roughly five minutes long. The site aims to compete with similar videos offered on YouTube, by offering a few extra features with its “smart player,” including slow-playing mode and zoom-in and zoom-out functions. 5min currently has about 10,000 videos on its site. More about the company and its hopes here.