Tag Archives: Veoh
Veoh Sells Assets To 2Peer Ltd.
Video streaming service Veoh Networks has reportedly sold the rest of their assets to 2Peer Ltd. In the company’s total lifespan, they raised about $67.5 million in venture capital. The financial details of the transaction are unknown.
Veoh started in 2004 and was based in San Diego. The company started by hosting user generated video content, but eventually transformed into a video licensing service. This past February, the company laid off all employees and went Chapter 7 bankrupt. [DMWMedia]
Categories Veoh, Veoh Networks
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Judge Rules Against Vivendi In Veoh Case; Ruled Veoh Satisfied DMCA Criteria
“Veoh has shown that when it did acquire knowledge of allegedly infringing material — whether from DMCA notices, informal notices, or other means — it expeditiously removed such material, and UMG has failed to rebut that showing,” stated a court order by the U.S. District Court for the Central District of California. The Court made a ruling against Universal Music Group for its 2007 lawsuit against Veoh Networks Inc. Whenever Veoh received a DMCA takedown notie, they quickly reacted and removed the material.
UMG failed to show an appropriate rebuttal of Veoh’s proactive removal of copyrighted material. Universal said that the ruling was “wrong” and that they plan to appeal. “The balance between copyright holders and technology that Congress sought in enacting the DMCA has been upended by this decision,” stated Universal Music. The Veoh vs. Universal Music lawsuit was closely watched by media companies because Viacom has a pending lawsuit against Google over copyright material being uploaded on YouTube.
Dmitry Shapiro, the founder of Veoh said that the lawsuit was costly and dragged on for two years. Veoh has venture funding from Goldman Sachs, Time Warner, Spark Capital, Intel, etc.
Veoh raised about $70 million in total funding and is not profitable as of yet, but they expected to be by the second quarter of 2010. Veoh is exploring the possibilities of either selling themselves or raising additional investment.
Categories Dmitry Shapiro, Universal Music Group, Veoh, Veoh Networks, Vivendi, Vivendi SA
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Veoh Reportedly Shopping Around For A Buyer
One of YouTube’s most critical flaws when the company first started was that the video quality was inferior. This is where companies such as Joost and Veoh wanted to hit YouTube where it counted. Both Joost and Veoh had higher quality videos than YouTube, but they lacked in quantity. Last week Joost decided to focus on video platforms for companies rather than making deals with companies to stream their content.
Now Veoh is reportedly giving up on being a streaming video start-up company. AllThingsD is reporting that the company is looking for a buyer for a price that is below the $70 million in funding that they have raised over the last four years. The $30 million Series D round of funding took place back in June 2008.
Some of the previous investors include former Disney CEO Michael Eisner and Goldman Sachs. The company has not been profitable and last year alone they lost about $6 million. Veoh is also facing litigation from Universal Music Group which is accusing them of copyright vilations.
Currently there is no word on who a potential buyer may be, but considering how much traffic Veoh is receiving I would not be surprised if an acquisition takes place in the near future.
Categories Goldman Sachs Group Inc., Goldman-Sachs, Michael Eisner, Veoh, Veoh Networks
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High Quality Video Sharing Site, Veoh Brings In $30 Million Series D
Veoh is a video sharing website based in San Diego, Calif. Michael Eisner, former Disney chairman is on the Board of Veoh. Eisner was one of the investors in Veoh’s $12.5 million in second round funding in April 2006. Eisner also participated in the $25 million Series C round of funding in August 2007 as well. And today Veoh raised $30 million in funding from Intel Capital, Adobe Systems, Shelter Capital Partners, Spark Capital, Goldman Sachs, The Tornate Company, Time Warner, and several other investors.
Veoh has two viewing options for their site. The first option is to allow users to stream videos from the web, but they provide full episodes of television shows giving them the leg-up on YouTube. The second option is to watch high quality videos using VeohTV through p2p technology. Like YouTube, Veoh compresses video using Adobe Flash.
Veoh claims that they receive 28 million unique visitors who spend 100 minutes per month on their site on average. Veoh isn’t that far behind DailyMotion and Metacafe in terms of traffic.
Information Source:
[1] TechCrunch: Veoh Raises Another $30 Million From Intel Capital, Adobe, and Gordon Crawford by Erick Schonfeld
Veoh’s $25 Million Third Round of Funding Confirmed
Veoh is a video content website that serves home videos and internet TV content. As of earlier, the third round of funding was tentative, but has been finalized today. The investors that are plugging $25 million into Veoh includes Tom Freston (former CEO of Viacom), Goldman Sachs Group Inc. (NYSE:GS), Spark Capital, Shelter Capital Partners, Time Warner Investments, Michael Eisner’s The Tornante Company, Jonathan Dolgen (former Chairman/CEO of Viacom), and Ziffrin law firm.
In June, Veoh launched VeohTV, a special video browser and with DVR technology that has a patent-pending smart recommendation engine embedded in the service. The address for VeohTV is www.veoh.tv.
Steve Mitgang recently started as Veoh’s CEO. Mitgang came to Veoh from Yahoo!, where he served as the SVP of Yahoo!’s global team where he helped manage the Panama project. When Yahoo! bought Overture, a web analytics company, it also acquired Keylime Software, where Mitgang was CEO.
References:
[1] paidContent.org: Eisner-Backed Video Site Veoh Raises $25 Million; Tom Freston Invests