Blip Drops “.tv” and Gets $12M in Funding

Posted by at 2:24 pm on February 9, 2012

Streaming video startup has announced it will dropping the “.tv” from its name in the first of many steps to refresh and improve the company. Blip has also secured a $12 million round of funding to help see those improvement efforts through.

“Our research actually showed that people didn’t really identify web series as associated with television, so dropping the ‘.tv’ from the brand just made sense,” said Blip COO Steve Brookstein in an interview with VentureBeat. “It also fits in line with what we’re doing with the site overall.

Rather than trying to directly imitate YouTube or Vimeo, the site is focused on becoming the number one place people go to watch original, “episodic” web shows, such as Red vs. Blue, Red Letter Media, CBR TV, and Annoying Orange. By eliminating all of the viral video noise found on other video sites, founders of Blip feel that the best produced content gets a chance to promote itself by emphasizing things like a backlog of episodes, official website links, social media accounts, online merchandise store, and more.

Brookstein said Blip intends to use the new funding to improve the tools and services available to web show producers, like making the Analytics dashboard more detailed. The startup also plans to use the new capital to further develop its content distribution and advertising platforms.

The new $12 million round includes investment from Bain Capital, Canaan Partners, and existing investors as well as debt from Silicon Valley Bank. This round also includes the $6 million investment reported in December. The New York City-based startup previously closed a $5.2 million round in 2008 and a $10.1 million round in 2010. Blip has raised a total $30.3 million in funding to date.

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