Yesterday we wondered whether Next New Networks was still raising a second round. Not any more: The Web video network has closed a $15 million Series B, led by Goldman Sachs and Velocity Interactive Group, whose Jon Miller was already a NNN board member. Spark Capital, Haim Saban and Bob Pittman‘s Pilot Group, who were all part of the company’s $8 million Series A, have all reupped. No word on valuation but we’ll update if we get an estimate.
We’ve been sceptical about the Web video industry for some time, and expect a shakeout to commence sooner than later. If NNN is going to survive it’s going to have start ramping up both distribution and revenue, but the company says it’s doing just that: It began a real sales effort in Q4, and is now boasting of big jump in eyeballs. It says it generated 100 million video views in 2007 and says that’s accelerating rapidly; NNN says it racked up 33 million views in February alone.
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