While many people seem to suggest that the slowing economy will affect funding, it is certainly surprising to see players enter competitive and uncertain spaces with new, large funding rounds.
Examples:
- TidalTV raised $15M, it’s essentially a similar business to Joost and Hulu. Joost has raised $45; Hulu has raised $100M. Disclosure: WatchMojo.com provides content to both Joost and Hulu, along with 100s of other large destinations.
- Panther Express raises $16M. Last time I checked, CDNs were being commoditized. Limelight Networks debuted at $20/share in its much ballyhooed IPO, but it’s now at $7… “up” from its 52-week low because every day a new rumor pops up about a potential acquisition (last week MSFT, this week Level 3).
Anyway, more power to these companies and their backers. Online video streams surpassed search queries, so at the macro level, the market is steamrolling… but does that mean that we need more competitors at the micro level?
Time will tell.
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