MindBites Launches Instructional Video Marketplace

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.

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