Blog Post

lonelygirl15/KateModern Team Raises $5M

The creators of lonelygirl15 and KateModern — some of the best examples of entertainment that truly uses the web — have formed a company, EQAL (pronounced “equal”) and raised a Series A round of $5 million led by Spark Capital and including Conrad Riggs, Ron Conway, Marc Andreessen and Georges Harik. [digg=]

Founders Miles Beckett and Greg Goodfried say they have accumulated more than 150 million views for their two series. They explained in a press release,

Formerly LG15 Studios/Telegraph Ave. Productions, the new company name reflects the team’s
philosophy of creating shows where the community built around the property is as important as
the characters within it. EQAL is also a nod to the power of internet distribution in allowing
Hollywood outsiders to have an equal chance to compete with traditional media for audiences.

The pesky thing about VCs is they pressure for you for a return on their investment. So is this really a business opportunity? We’ll talk to Beckett and Goodfried tomorrow.

Further reading:

– Venture capitalists nearly came to blows about whether it makes sense to invest in content at our NewTeeVee Live conference last fall. One of them was from Spark Capital.
– Goodfried spoke at one of our Pier Screenings last summer about product integration.

19 Responses to “lonelygirl15/KateModern Team Raises $5M”

  1. I give those guys credit for some impressive realism tactics of marketing however I do not know if they will be able to replicate their success without intervention from whichever sites they promote on

  2. There are a lot of people who don’t understand Lonelygirl15 or how smart Miles Beckett and Greg Goodfried really are.

    I have a feeling that when people look back at the adoption of online video and the success of YouTube historians will blame the downfall of mankind on Greg and Miles. ;)

    I can’t wait to see what they do with this money because I’m sure it will end up helping all of us independent producers.