MEVIO to Offer Advertisers 'Brand-Safe' Programming with Audiences that Rival Broadcast Television SAN FRANCISCO, July 9
SAN FRANCISCO, July 9 /PRNewswire/ -- MEVIO today announced that it has
secured $15 million in a Series C funding round led by Crosslink Capital and
including Kleiner Perkins Caufield & Byers, Sequoia Capital, Sherpalo Ventures
and DAG Ventures. MEVIO will use the investment to continue expansion of its
broadband entertainment offering and to launch new vertical entertainment
networks that offer advertisers a "brand-safe" platform to reach audiences on
the scale and frequency offered by traditional broadcast networks.
With a top 20 comScore ranking in both music (May, #10) and Multimedia
(May, #16), MEVIO has had an explosive year of growth, witnessing dramatic
increases in unique monthly visitors, page views, video streams and
registration. In the last six months alone, MEVIO launched a new online
entertainment network, doubled the amount of media it delivers, re-branded the
company (formerly PodShow) and introduced a growing lineup of top shows that
generate over 50 million views per month, strictly from MEVIO's wholly-owned
properties and without the benefit of integration of an ad network. With this
funding round, MEVIO expects to accelerate its growth with particular focus on
offering premium brands the opportunity to reach and engage online audiences
safely and effectively.
"The first wave of online video was a total failure for brand
advertisers," said Ron Bloom, co-founder and chief executive officer, MEVIO.
"In order to attract the billions of dollars of brand advertising spending
that is still dedicated to television programming, online companies will have
to provide audience and frequency at a scale to compete with traditional
broadcast, and build it around brand-safe content that is relevant and
entertaining. MEVIO is building that network."
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.
"From distribution and licensing, to format and delivery, to basic
underlying business models, the entertainment industry is continuing to
undergo a dramatic shift as the Web evolves," said Jim Feuille, Crosslink
Capital. "MEVIO's rapid growth, both in audience and programming, is testament
to its focus on delivering a vision for entertainment that cannot be found
elsewhere on the Web. We look forward to helping MEVIO continue to execute on
this vision."
"We have always focused on high-quality, episodic content and have always
questioned the relevance of single-clip video upload models for brands," said
Adam Curry, co-founder and president of MEVIO. "MEVIO is building a full-scale
entertainment network that incorporates all of the positive elements of
traditional media along with the benefits of scale and insight offered by the
Internet."
About MEVIO
MEVIO (http://www.MEVIO.com), the premier broadband entertainment network,
provides single-click access to the best in new media in video, audio and
music, delivered to an audience of millions and enjoyed on their computers,
iPods, mobile devices and televisions. The Company produces and develops its
own lineup of "brand-safe" episodic programming and delivers it on a platform
that enables audiences to view, collect, organize, share, and create. MEVIO
provides advertisers with a brand-safe network that enables them to reach and
engage audiences with the scale and frequency of television and the insight
and interaction of the internet. The Company has delivered campaigns for a
broad range of world-class brands, including Coca Cola, Toyota, Anheuser
Busch, HP, Motorola, Microsoft, Sony Pictures, Acura and Budget Rent A Car.
MEVIO is privately held company and is backed by leading venture capital firms
Kleiner Perkins Caufield & Byers, Sequoia Capital, Sherpalo Ventures, DAG
Ventures and Crosslink Capital.
MEVIO and PodShow are trademarks of MEVIO, Inc. All other trademarks are
the property of their respective owners. (*metrics extracted from comScore,
Omniture, CDN data)
SOURCE MEVIO
