Mark Cuban Invests In Revision3
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Internet billionaire Mark Cuban has invested in video podcast company Revision3. This investment is part of a small round of funding that Revision3 raised last year, but was not disclosed until now. Revision3 is known for producing the podcast called Diggnation. Cuban co-founded a cable TV company called HDNet network and he has argued that expectations for web video was over-hyped and it would never displace TV. Cuban is investing in a potential source of content for his TV network.
“I think Jim can make some money from this. I don’t throw money away,” stated Cuban in an e-mail with AllThingsD. “But this investment really confirms my position on web video. While Revision3 will make some money on the web, the real money is [in] TV. And I wanted HDNet to have the option to be that outlet.” Revision3 said that revenues have increased 80% since last year and the company made a profit in Q4 2010.