Former Hulu CEO Jason Kilar recently announced his next venture, Vessel.
Vessel has already snagged about $US75 million, according to Re/code. It’s backed by Benchmark, Greylock, and Bezos Expeditions.
Details about Vessel are scarce, but we do know that it will be focused on “next generation video,” Kilar wrote in a post announcing Vessel.
We’re hearing from our sources that it will be like a digital flip book — so basically like Flipboard — but with ad-supported video.
That jibes with reports from earlier this year that the app would be a collection of “premium” magazine and newspaper content, alongside videos. Vessel will also rely on subscriptions, according to The Wrap’s sources.
“My money would be on Jason figuring out how to marry the best of Hulu (big content deals), Netflix (original programming) and YouTube (open platform),” angel investor and Inside.com CEO Jason Calacanis told Business Insider via email. “$75m goes a long way. That’s at least two or three years with a team of 100 people (if they don’t make any money).”
Readers, let us know what you’ve heard! Email me at [email protected]
Here’s the full text of Kilar’s post.
Hello from Vessel
We’ve been busy building a service whose mission is to delight consumers and content creators alike. Though we still have more work to do at Vessel, we want to share this brief update and reach out to the creator community. If you are a content creator, particularly a video content creator, we should talk!
We have assembled a unique and talented team, with strong experience building and innovating at places like Hulu, Netflix and Amazon. As a team, we are unusually passionate about the intersection of media and technology; we see an opportunity to improve media, particularly next generation video.
Our investors, led by Benchmark, Greylock Partners, and Bezos Expeditions (the personal investment company of Jeff Bezos) are world class and gifted builders. To have such an amazing group put their faith in us is energizing and humbling.
We’ll have much more to share prior to the end of the year. But for now, it’s back to work for us!
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.