PodShow Receives $15M from Leading Venture Firms as Company Accelerates its Growth on the Internet and Beyond
–Lead Investor DAG Ventures Joins Original Investors Kleiner Perkins, Sequoia and Sherpalo–
SAN FRANCISCO, Calif. (September 29, 2006) – PodShow, Inc., the digital media entertainment network whose properties include PodShow+, PodShow Podcast Network, PodShowPDN, Podcast Alley, Castblaster, the Podsafe Music Network and, most recently BTPodShow, today announced that the company has raised a second round of venture funding from new and original investors, totaling $15M, led by DAG Ventures. This announcement comes on the heels of the BT PodShow (www.btpodshow.com) press conference where the companies disclosed plans for a co-branded service for the UK and Ireland that goes beyond the Internet to include initiatives like BT Vision, a television-based home entertainment initiative.
“PodShow is emerging as a new type of media company, driven by the passionate demand of a growing audience and the increasingly available treasure-trove of high-quality content created outside of the Hollywood system,” says Ron Bloom, CEO and co-founder of PodShow. “This new investment will help us more aggressively respond to the increasing demand of our global audience to find one place where they can create, consume and directly relate to the best in independently produced and mainstream media… and more importantly… to join the show!”
As the company has grown, PodShow has moved deeper into producing its own content, offering access to a wider range of third-party audio, music and video, and providing a complete, single-click platform for the creation, discovery and sharing of killer content. At the same time the Company has been working to provide broader and more reliable distribution on the Internet while initiating plans to move its content into the home and across all mobile devices.
“Analysts tend to think of podcasting as a vertical so that they can attempt to quantify trends and make predictions,” continued Bloom. “Audiences cannot be that simply quantified. PodShow is a media company that is bridging the gap between mainstream media and user-generated content, giving audiences great entertainment and a way to connect, share and contribute.”
Receiving interest from multiple investment groups, PodShow closed this round of funding very quickly. Management selected DAG due to their familiarity with the sector, and unique investment approach.
“We see PodShow as more than a podcasting company. They are tomorrow’s media company, providing the best in new entertainment, music and video on virtually any device, and building lasting and valuable relationships with their audiences.” says Tom Goodrich, Managing Director of DAG. “DAG recognizes PodShow’s proven ability to grow an aggregate audience of millions, attract top programming, develop new media properties and create strong partnerships with Madison Avenue brand marketers and leaders in infrastructure and distribution.”
About PodShow, Inc.
The PodShow digital media entertainment network addresses an audience of tens-of-millions and is comprised of PodShow+, PodShow Podcast Network, PodShowPDN, Podcast Alley, Castblaster and the Podsafe Music Network. PodShow+ makes independently produced media more accessible to an audience of millions, provides resources for producers, and enables marketers to take part in the podcast explosion. BT PodShow is a co-branded service from PodShow LTD in partnership with BT, enabling consumers in the UK and Ireland to create, connect and share their content – both video and audio – with an audience of millions around the world. PodShow offers professional production and directory services to major media companies and traditional businesses. PodShowPDN™ is the first high-performance content delivery network meeting the specific needs of podcasting, delivering a comprehensive creation, production, and delivery and monetization solution for independent podcasters and mainstream media companies. In every way, PodShow has greatly simplified the production experience for artists and listeners around the world. PodShow is a privately held company, backed by leading venture capital firms Kleiner Perkins Caufield & Byers, Sequoia Capital, Sherpalo Ventures and DAG Ventures. For more on PodShow, visit: http://www.podshow.com, and for all queries visit: http://www.podshow.com/contactus.html.
PodShow, PodShow+, Podsafe Music Network, Podcast Alley, and PodShowPDN are trademarks of PodShow, Inc. All other trademarks are the property of their respective owners.