AFI BLOG: Media and Technology

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Just this weekend it was reported that video network Veoh was out for a new round and here it is: The LA-based company has raised a $30 million round led by Intel (NSDQ: INTC) Capital, Adobe (NSDQ: ADBE) and investor Gordon Crawford. Past backers—Shelter Capital, Spark Capital, Goldman Sachs, Michael Eisner’s Tornante Company, Time Warner (NYSE: TWX) Investments and Jonathan Dolgen—which had invested around $40 million also participated, bringing its total raise to $70 million. (Update: Peter Kafka at SAI who’s been tracking this round for awhile says it values the company at $120-$125 million pre money) The funding comes as Veoh cut off users in several countries, bringing itself down to around 33 markets. The company will use the funding to expand its offering, impprove its monetization efforts and do more with video discovery

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