There are a few blips of financial activity in the online video world on this slow news Friday.
First up, video ad network TidalTV raised $8.9 million of a $16 million round, according to an SEC filing. This brings the total amount of money the company has raised to $23.9 million. Though TidalTV has always had an advertising bent (its founder and CEO, Scott Ferber, was also co-founder and CEO of Advertising.com), when we first covered the company, it also had aspirations to be the next Hulu, offering long-form premium content online. TidalTV’s vice president of marketing, Mark McKee sent us the following statement via email:
At this time we cannot comment on any financing questions.
As far as TidalTV’s business model, our 1st Party site was developed to gain value insight into the online video space (including audience, content, advertising and technology) and aid us in the build-out of our 3rd Party Online Video Advertising Monetization Platform. Our network business is now fully deployed and we are gaining great traction with both publishers and advertisers. As a result, we have decided to focus our company’s resources on continued development and evolution of the network model.
Now stop! Hammertime.
Also out today is word that MC Hammer’s UGC dance site, DanceJam, will be acquired by Purevideo Networks. TechCrunch broke the news, but didn’t provide any details like purchase price. DanceJam’s co-founder Geoffrey Arone provided confirmation of the deal in the story’s commments, and said that his company had 18 months worth of cash in the bank.