Ripe Digital Entertainment, the LA-based digital entertainment company backed by Hearst-Argyle (NYSE: HTV) and Time Warner (NYSE: TWX) investments, has closed down, we have confirmed from sources, and the remaining management is trying to sell the company’s assets. continue reading...
Mania TV adds $5M to their $17M in funding, bringing the total to $22M. Ripe TV remains “king of the hill” funding-wise with $32M… followed by Heavy.com’s $25M but I am not sure if they really fall in video creators anymore…
These amounts are just a “tad” more than the money we’ve invested in WatchMojo.com, of course. I reiterate that you are better off not being funded up the wazoo until you know what your business model will look like and it actually pans out. I’m not alone in thinking that, take it from a pro like Fred Wilson: the following is the most accurate thing I’ve ever read about why VC-backed firms fail (our commentary here and here). continue reading...
