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Is Discovery Channel Buying Revision3?
- TechCrunch, Tuesday, May 1, 2012 11:54 AM
Rumor has it that The Discovery Channel has been engaged in acquisition talks with online video programmer Revision3 for between $30 million to $40 million. That would put the deal in the range of what YouTube paid for rival video content company Next New Networks last year, TechCrunch points out. Word is that the acquisition could go down as soon as this week, but is Revision3 worth the investment? “
Seven years in, Revision3 and its stable of stars have more than survived the tough early days of building a video content business on the web,” TechCrunch notes. What’s more, “The San Francisco company is now bringing in a respectable 100 million video views per month, following a big 2011.” Revision3 reported ad-based revenue growth of 53% in 2011 -- while leaving the hard numbers to our imaginations. That year, meanwhile, video views skyrocketed by 359% to 800 million views.
Over the same period, the company also grew its YouTube subscriber base to more than 4.5 million people, which represented a 400% annual gain. To date, Revision3 has raised $10 million in two rounds from Greylock Partners, with additional funding from Marc Andreessen and Mark Cuban.
