Hedge Funds Back the New YouTube

Filed in archive Hedgetalk on July 9, 2008

Photo courtesy of iStockphoto, mustafa deliormanli

Hedge funds Sequoia Capital, Sherpalo Ventures, Kleiner Perkins Caufield & Byers, and DAG Ventures were led by Crosslink Capital in investing $15 million in entertainment network MEVIO.

In May of 2008, the company attracted over 9 million unique monthly visitors, up over 800 percent in the last twelve months. For the second quarter of 2008, MEVIO estimates page-views to exceed 140 million, up over 1,800 percent quarter over quarter. With the launch of its vertical entertainment networks, the company is exploring syndication opportunities that management believes will dramatically enhance MEVIO's already impressive reach.

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