Greylock Invests $8 Million Into Revision3

Posted Jun 24, 2007

The reason why I like Revision3[1] is because the company produces the show, Diggnation. When a story hits the homepage of Digg and gets tons of hits and attention, the odds of the event being talked about on Diggnation increases. And then either the founder, Kevin Rose or producer, Alex Albrecht gives credit to the user who submitted that particular story. This gives more of a human essence.

Although I do not watch the show much myself, I did watch the episode[2] after the HD DVD key fiasco to see the response from Rose and Albrecht. I would say that this episode is the one that captured my interest.

Sometime between last night and this morning, TechCrunch reported[3] that Revision3 gained $8 million in investment by Greylock partners. “Online video site Revision3 has raised an $8 million second round of financing, according to a source close to the deal, bringing the total capital raised to $9 million. Our understanding is that Greylock led the round,” wrote Michael Arrington, TechCrunch founder.

Marc Andreessen, the cofounder of Netscape Communications Corporation (which was sold to AOL for $4.2 billion in 1999), is also an investor in Revision3.  Having Andreessen as an investor is a classic example of Web 1.0 reaching out to 2.0.

With the new round of funding, I’m assuming that Diggnation will expand their network of online video programs.   Kevin Rose is a posterboy of web success.  Both of his ventures, Digg and Revision3 is kicking ass with no barriers in the way.

[2] Diggnation: Episode 100
[3] TechCrunch: Revision3 Raises $8 million From Greylock