Airtime is a video startup company that was founded by Napster founders Shawn Fanning and Sean Parker. Airtime is still in stealth mode, but they have made their first acquisition. Airtime acquired Erly, a company that lets people create “a beautiful webpage for your event.” The event page lets you invite guests, collect photos/videos/stories, and browse updates from your friends’ events. Erly was founded by former Hulu CTO Eric Feng. On top of acquiring their first company, Airtime has announced a new $25 million round of funding led by Kleiner Perkins, Andreessen Horowitz, and Google Ventures participated in this round of funding as well. Kleiner Perkins partner Bing Gordon is joining Airtime’s board of directors as part of the new round of funding. Airtime is expected to launch on June 5th.