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GodTube, a faith-based Christian video sharing site and social network has raised $30 million at a $150 million valuation.
The funding comes from GLG Partners, a hedge fund. The site had previously raised $2.5 million from private investors, including Norm Miller of Interstate Batteries, according to paidContent.
GodTube has had solid growth since its launch last summer in Dallas and it attracts around 2 million users a month. It has more than 280,000 registered users, including 25,000 churches.
The site generates revenue through its Godcaster program, which allows churches to stream live video of their services online. The company also plans to launch a white-label social networking service for churches. The site sells both religious and secular advertising.
A GodTube spokesperson would not comment directly on the funding but did say," We have enjoyed substantial growth over the last several months and we are excited about taking our business to the next level, but we do not have any formal announcements to make at this time."
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