5min Raises $7.5 Million to Fuel its Video Syndication Network
PR Newswire, July 23, 2009
Globespan Capital Partners and Spark Capital Invest in Series B Financing
5min (www.5min.com), the leading syndication platform and destination for vertically focused broadband lifestyle, instructional and knowledge videos, today announced that it has secured $7.5 million in Series B financing. Led by new investor, Globespan Capital Partners, the round also includes existing investor, Spark Capital. Globespan Managing Director Jonathan Seelig will join 5min’s Board of Directors.
5min syndicates its content through its semantic video engine, VideoSeed, and its proprietary video player to websites such as Answers, wikiHow, Wikia and Articlesbase and hundreds of vertical sites. The 5min platform collectively reaches a potential audience of over 200 million monthly unique visitors, and of this group, 14 million people watch at least one video per month. 5min has also built a multi-vertical content library of over 100,000 professionally produced videos through partnership with media companies such as Hearst Corporation’s UGO Entertainment, Elle, Car & Driver, The Doctors, Pet Side, Britannica, Ford Models, Kiplinger, Big Think, WatchMojo, Road & Track, Woman’s Day and more.
“While 5min has become the largest ‘how-to’ video destination site,” says Ran Harnevo, CEO and co-founder of 5min, “we’ve also developed the only video platform that leverages a huge category-specific library to semantically syndicate the most relevant content to passionate audiences across the Web, wherever they exist. We provide every site publisher with professionally produced content, a video technology platform, and a full video monetization solution - all in one free offering.”
