5min Raises $7.5 Million Second Round Of Funding From Globespan Capital and Spark Capital
5min is a website that features do-it-yourself videos that revolve around categories ranging from arts to pet care to health to video games. 5min has raised a $7.5 million second round of funding from Globespan Capital Partners and Spark Capital. Globespan led the round.
5min receives about 200 million views per month and has a library of over 100,000 short videos. 5min also syndicates content to wikiHow, Wikia, and hundreds of other websites driving pageviews to their website.
This round of funding will be used to further developer 5min’s VideoSeed syndication platform. This allows websites to scrape video content from their website, but with advertising built in.
5min raised $5 million in their first round of funding from Spark around November 2007. Seven months before that, 5min raised $300,000 from angel investors.
[via VentureBeat]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry