Pulse2 Technology and Social Media News » GLG Partners http://pulse2.com Sat, 26 May 2012 21:27:32 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 SpinVox Raises Additional Funding Despite Credit Litigation http://pulse2.com/2009/08/03/spinvox-raises-additional-funding-despite-credit-litigation/ http://pulse2.com/2009/08/03/spinvox-raises-additional-funding-despite-credit-litigation/#comments Tue, 04 Aug 2009 03:09:40 +0000 Amit Chowdhry http://pulse2.com/?p=17980 Continue reading →]]> spinvox-logo
SpinVox is a service that converts voice mail into text messages through their Voice Message Conversion System around 2005.  The company is based in Buckinghamshire, Great Britain.  The company raised over $200 million from GLG Partners, Goldman Sachs, Toscafund Asset Management, and Blue Mountain Capital Management over the last couple years.

However the company is now facing litigation from creditors over hundreds of thousands of pounds.  One of SpinVox’s technology partners almost decided to cut them off over an unpaid £100,000 bill.  SpinVox also owes money to several other suppliers who are threatening to sue the company.

SpinVox was founded by Christina Domecq and Daniel Doulton.  One of SpinVox’s suppliers filed three county court claims against the company because they were owed £200,000.

“Existing investors from the last round of funding have made available more funds to allow the company to continue its growth,” stated a SpinVox spokesperson in an interview with paidContent.  It is highly likely that the cash will be used up quickly to take care of existing debt.

[via ThisIsMoney]

]]> http://pulse2.com/2009/08/03/spinvox-raises-additional-funding-despite-credit-litigation/feed/ 0 GodTube Should Be Ready To Yell, Hallelujah! The Christian Video Sharing Site Has Raised $30 Million. http://pulse2.com/2008/05/05/godtube-should-be-ready-to-yell-hallelujah-the-christian-video-sharing-site-has-raised-30-million/ http://pulse2.com/2008/05/05/godtube-should-be-ready-to-yell-hallelujah-the-christian-video-sharing-site-has-raised-30-million/#comments Tue, 06 May 2008 02:24:10 +0000 Amit Chowdhry http://pulse2.com/?p=3440 Continue reading →]]> GodTube Logo
Hedge fund, GLG Partners has invested $30 million into GodTube, a Christian video sharing web site, valuing the company at $150 million. GodTube previously raised $2.5 million.  The company is based in Dallas, Texas and was co-started by Chris Wyatt, a former CBS exec producer.

GodTube recently launched GodCaster and the Video Police. Video Police are real humans ensuring that explicit content is not uploaded to the site.  ”Godcaster” is a way for churches to stream live videos of their services online.

GodTube is the only site I’ve seen that has raised funding by taking a web 2.0 concept and combining it with religion.  On the contrary, Google/YouTube is filing a trademark suit against JewTube.  There are many companies out there that takes religion and mixes it with the name of a social network including HinduSpace, MyPraize, MuslimSpace, and MyJWorld.  

Religion social networks are opening constantly, yet these niches have not quite been saturated yet.  Most of these social networks out there are unique to the specific religion.

Information Source:
[1] Hoping For Ungodly Returns: Christian Video Sharing Site GodTube Gets $30 Million Funding

]]> http://pulse2.com/2008/05/05/godtube-should-be-ready-to-yell-hallelujah-the-christian-video-sharing-site-has-raised-30-million/feed/ 1