Viddy Vies For $30M In Fresh Funding

Mobile video-sharing service Viddy -- which recently ranked as the top free iPhone app on Apple’s App Store -- is reportedly raising a $30 million Series B round at a $370 million valuation. “I have no idea whether that is post or pre-money, but whatever it is, it is really ambitious,” writes TechCrunch’s Alexia Tsotsis. “It also means investors are hoping it’ll be a $10 billion company, or an $800 million company at the least.”

Just this past February, Viddy closed a $6 million Series A round, with participation from Battery Ventures, Greycroft Ventures, Qualcomm, and Bessemer Ventures. According to Viddy, it attracted over 40 million app views in January, which analysts attributed to the startup’s courting of celebrities and tech influencers. Viddy recently claimed 8 million users, and, more significantly, a sharp increase since Facebook launched its Timeline app back in February.

Regarding competition, however, TechCrunch recently wrote: “There are a number of startups vying to claim the ‘Instagram for Video’ title, with Socialcam, Viddy, Klip, Mobli, and even the infamous Color all in the running.”

 

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Tags: financing, mobile
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