jay
06-26-2007, 07:06 AM
FOR IMMEDIATE RELEASE
REVISION3 CLOSES $8 MILLION SERIES B FINANCING ROUND
Internet Television Pioneer To Use Funds to Expand Programming and Sales Efforts
SAN FRANCISCO, Calif. – June 25, 2007 – Revision3, the leading Internet television network, today announced that the company has closed a Series B round of funding. Investors primarily include Greylock Partners. The funding will be used to expand the network’s eclectic mix of hip, geek and pop culture-oriented Internet TV programming focused on themes that speak to the desirable 18 to 34-year-old age group. Revision3 content has been downloaded over 30 million times since the network’s launch.
Revision3’s board of directors will consist of Digg and Revision3 founders Jay Adelson and Kevin Rose, as well as David Sze and James Slavet of Greylock Partners. Greylock Partners is the exclusive venture capital firm involved in the round. The funds will be used to expand programming, ramp up direct sales efforts and to supply additional working capital.
Founded by Rose, Adelson and David Prager, Revision3 receives over two million downloads a month due to the popularity of original Internet TV shows such as “Diggnation,” “Systm,” “The Totally Rad Show,” “iFanboy” and “InDigital.”
“There’s a revolution happening in television and we’re committed to continuing to lead the charge,” said Adelson, chairman and chief executive officer of Revision3. “The success of the network speaks to the fact that there’s a very large and growing audience that wants the next generation of content. Modern audiences expect to get what they want, where they want it and when they want it. Advertisers see a tremendous opportunity here, particularly with the myriad of new distributors arriving on the scene adding millions of viewers globally. Within the last nine months we’ve signed sponsorship contracts with large, established corporations that have been able to see sales increases as a direct result of their deals with Revision3. This new round will allow us to build on our successful business model.”
Revision3 takes a unique approach to advertising by embedding ads within programming. This drastically increases the number of viewers that watch the ads and increases their efficacy because popular Revision3 personalities talk about products in a way that resonates with their audience. And because Revision3 is freely distributed through multiple sites and partners, ad extensibility is high. Advertisers include Sony, Netflix, Microsoft, WebEx, Verizon, Adobe and GoDaddy.
About Revision3
Revision3 is an Internet television network for the on-demand generation, producing some of the most engaging and original audio and video entertainment programs available on the Web. From the highly technical to the ridiculously silly, count on Revision3 for content that is accessible, edgy, and informative.
Revision3 was founded by Kevin Rose, Jay Adelson and David Prager in April 2005 with the vision that truly revolutionary Internet television wasn’t about putting television programming on a computer. The new world of Internet television left up to the media moguls of the world is about as cool as your dad's Facebook page. With more than 30 million downloads, Revision3 develops unique content that can play on any device and speaks to a new generation about music, science, technology and comedy. Check out Revision3’s shows at www.revision3.com.
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REVISION3 CLOSES $8 MILLION SERIES B FINANCING ROUND
Internet Television Pioneer To Use Funds to Expand Programming and Sales Efforts
SAN FRANCISCO, Calif. – June 25, 2007 – Revision3, the leading Internet television network, today announced that the company has closed a Series B round of funding. Investors primarily include Greylock Partners. The funding will be used to expand the network’s eclectic mix of hip, geek and pop culture-oriented Internet TV programming focused on themes that speak to the desirable 18 to 34-year-old age group. Revision3 content has been downloaded over 30 million times since the network’s launch.
Revision3’s board of directors will consist of Digg and Revision3 founders Jay Adelson and Kevin Rose, as well as David Sze and James Slavet of Greylock Partners. Greylock Partners is the exclusive venture capital firm involved in the round. The funds will be used to expand programming, ramp up direct sales efforts and to supply additional working capital.
Founded by Rose, Adelson and David Prager, Revision3 receives over two million downloads a month due to the popularity of original Internet TV shows such as “Diggnation,” “Systm,” “The Totally Rad Show,” “iFanboy” and “InDigital.”
“There’s a revolution happening in television and we’re committed to continuing to lead the charge,” said Adelson, chairman and chief executive officer of Revision3. “The success of the network speaks to the fact that there’s a very large and growing audience that wants the next generation of content. Modern audiences expect to get what they want, where they want it and when they want it. Advertisers see a tremendous opportunity here, particularly with the myriad of new distributors arriving on the scene adding millions of viewers globally. Within the last nine months we’ve signed sponsorship contracts with large, established corporations that have been able to see sales increases as a direct result of their deals with Revision3. This new round will allow us to build on our successful business model.”
Revision3 takes a unique approach to advertising by embedding ads within programming. This drastically increases the number of viewers that watch the ads and increases their efficacy because popular Revision3 personalities talk about products in a way that resonates with their audience. And because Revision3 is freely distributed through multiple sites and partners, ad extensibility is high. Advertisers include Sony, Netflix, Microsoft, WebEx, Verizon, Adobe and GoDaddy.
About Revision3
Revision3 is an Internet television network for the on-demand generation, producing some of the most engaging and original audio and video entertainment programs available on the Web. From the highly technical to the ridiculously silly, count on Revision3 for content that is accessible, edgy, and informative.
Revision3 was founded by Kevin Rose, Jay Adelson and David Prager in April 2005 with the vision that truly revolutionary Internet television wasn’t about putting television programming on a computer. The new world of Internet television left up to the media moguls of the world is about as cool as your dad's Facebook page. With more than 30 million downloads, Revision3 develops unique content that can play on any device and speaks to a new generation about music, science, technology and comedy. Check out Revision3’s shows at www.revision3.com.
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