Veoh Attracts More Investors

    September 12, 2007

Internet Television company Veoh, has announced that several media, entertainment and finance industries have joined Veoh’s team of investors.

The investors include Goldman Sachs, former Viacom and MTV Networks CEO Tom Freston’s FireFly3 LLC, and Jonathan Dolgen. Previous financial backers include Shelter Capital Partners, Spark Capital, Michael Eisner’s Tornante Company and Time Warner Investments.

"As Internet television is becoming an increasingly large part of viewers’ media experience, it’s important for traditional and new media companies to work together to deliver the most engaging content possible," said Steve Mitgang, CEO of Veoh Networks.

"These new team members, along with our existing advisors, will help us build the bridges between historic and emerging media business models that are necessary to drive even more innovation and greater variety in Internet Television."

Veoh’s Series C funding closed in August 2007, and it received $25 million in financing. The company’s user base reached 18 million unique users in August 2007, up from 4. 4 million users when Veoh launched in February 2007.

Peter Perrone, Vice President at Goldman Sachs, said,"Veoh is a clear leader in Internet television. Their rapid traffic growth reflects a unique and innovative platform that offers tremendous value to consumers, publishers, and advertisers. We look forward to helping drive this next phase of growth."