US

OLD NEWS: Another $25 Million of Mogul Money for Veoh

Emerging video companies continue to soak up cash: The Post reports that Veoh’s latest pile was supplied by, among others, ex-Viacom CEO Tom Freston, Paramount’s Jonathan Dolgen, and Goldman Sachs.   The $25 million comes on top of the $15 million the company has already raised.  Peter Lauria, NY Post  UPDATE: After waking up and reading this “news,” Managing Editor Peter Kafka notes that we already reported it a month ago, when it happened.

Veoh hosts and serves high-resolution video–which makes its business model even more cost-intensive than your average video start-up.  The site also reportedly now attracts 18 million bandwidth-consuming uniques a month and is engaged in an expensive lawsuit with Universal, so it’s no mystery where all that cash is going.

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