Hoping For Ungodly Returns: Christian Video Sharing Site GodTube Gets $30 Million Funding

18 Comments

GodTube, one of the fast growing Christian online video sharing and social networking sites, has received a big $30 million funding round from hedge fund GLG Partners, paidContent.org has learned. The valuation for this round was around $150 million. It has previously raised about $2.5 million from private investors, including Norm Miller of Interstate Batteries.

GodTube was launched in summer last year in Dallas, and has since been among the fastest growing websites online…it now says it has about 2 million users a month. Chris Wyatt, the CEO and co-founder of GodTube, was previously an executive producer at *CBS*. The company has since hired other senior media executives. As for its business model, its Godcaster program is being used few hundred churches, thus generating subscription revenues, and allows them to stream live video of their services online. In the coming months, the company will also launch a white-label social networking service to churches as well. Also, the site sells both religious and secular advertising.

While the $30 million is an ungodly big amount, it compares to the other video sharing sites such as Metacafe, Veoh and others in the post-YouTube era. In all of these cases, bandwidth ends up being a huge cost center.

*GLG* has also invested relatively big amounts in two other digital media companies recently: Glam Media and Spinvox.

*GLG* refused to comment, and GodTube’s PR had this non-committal statement: “We have enjoyed substantial growth over the last several months and we are excited about taking out business to the next level, but we do not have any formal announcements to make at this time.” For some more background on the site, read this LAT story: “Linking into the market for ministry“.

18 Comments

jessica

Hey to everyone one there comupters at home. i thank of the web sute Godtube.com a great why to hear and learn for the songs. like the song Set Me Free is a song that i really like it show know matter what sins you do in life gods all was there for you.

Nina

There can never too many sites to pass the word of God. The web site owners who do benefits the rewards from his or her faith-based web site promoting God's love, remember to forward you blessing to those in need of help and blessings.

God Bless

Nina

nick

i really get sick to the stomach when says God is dead, just because some is interested in doing what is not accordding doesnt mean you tell others who believe in god. tp go die.
anyway main point is hell is reall, jesus is real, God is real, just dont be afraid to embrace the truth.
see more of this on http://www.myafricachurchtv.com or godtube.com. its all about God. not mens opinions.

stay blessed

Nathaniel

It's not about church
It's not about a website
It doesn't matter how many people go to either
It's about spreading and experiencing the love of Jesus, friends
THAT is what truly matters in life
really look at what Jesus taught
He didn't want a subculture
He wanted us to shape the culture
To live in such a way that our mainstream culture is affected so that people see that Jesus is real. Read John 17:20-26
http://www.biblegateway.com/passage/?search=John%2017:20-26;&version=31;

Nathan

i can't believe someone actually just uttered the words "I’m just glad that a business model can be applied here." in regards to Christianity.
Faith in Christ, and the telling of Him is not a "5 Steps to Success" sort of idea.

David

Take me back to the bubble days.

Also, you should try to check out GLG's website. It is very strange — it is traded on the NYSE (GLG) but the main site is not available to residents of the US.

Larry

The stupidity of people is constantly amazing me. Godtube is a pointless waste of space, time and money. The money received for funding would be better off going to the less fortunate people around the world, especially with the recent disasters.

John

Why? When will they learn…the bible is Fiction. This is just a complete waist of time. They found the body of Jesus 200 years ago. Move on w/your lives. Your GOD is dead….and no one cares.

Seb G

@Danielle

When you mention business model, how exactly is this venture making money? Donations? Sponsorships? Or is it a real model that rewards its content providing users?

Greg

This may be the best paidContent headline ever, though I'd change "hoping" to "praying".

Danielle

There is a great demand for Christian content on the Internet now more than ever, I'm just glad that a business model can be applied here. Check out GideonTV.com, another Christian website offering live streaming.

Comments are closed.