pockets another $6 million for video blogging

Krystal Peak · December 29, 2011 · Short URL:

The online video distributor, Blip, brings its total funding to $24 million  has raised another $6 million in a Series D round of funding for the video blogging service, according to an SEC filing. The filing goes on to say that that Series D round could expand to as much as $11.1 million.

This brings the total amount of funding for the six-year-old company to $24 million.

Blip raised its Series C in Many, totalling $10.1 million.

The investors for this round have not been disclosed as of yet.

As of the time of the funding announcement, Blip was being used by 2.1 million people globally each month and equates to 4.5 million visits monthly to the site, according to Quantcast.

Blip has been working on becoming the independent destination site for video blogging and web series' but the big challenge is going head to head against YouTube. 

Since its inception, Blip had a stronger hand as distribution network to other video sites than existing as a destination site. In the last few months, Blip has tried to put a stronger focus on being a destination fro video content watchers but the traffic numbers don't seem to be reflecting the new goal.

The Brooklyn-based company has designed its homepage like a grid of tiles for popular Web series that you can mouse over and discover the most popular talent on the platform.

With more funding pouring in, it would be interesting to see if they overhaul their site or refocus on the monetization and distribution rather than trying to be a direct competitor with such a behemoth, YouTube. Recently, TwitVid has made a similar move to partner and also compete with YouTube as a destination to watch web video content but no one online content provider has proved to be a true contemporary to Google's strength in the video field.

With more than 183 million people consuming online video in the U.S. alone, the creation of a successful video content provider is a lucrative field. As of November, YouTube was capturing more than 151 million sets of eyes from U.S. internet surfers and the lion's share of the time watching videos online. VEVO and Hulu are the only sites that get in the competitive ballpark of YouTube (with 55.3 million and 31.3 million U.S. viewers, respectively.) 



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