Digital Hollywood - Monday, November 7, 2005
The Soccer Fans at Sequoia Capital
Here at the a:c we are hard-core about YouTube thanks to that site's rich vein of sick soccer clips such as the Ronaldino vs. Maradona mashup (we call the Brazilian the winner). Today we learned that Sequoia Capital had invested $3.5M in YouTube and we immediately wondered if perhaps Sequoia Capital are soccer maniacs too. That may well be the case, but it seems that the YouTube execs are PayPal cash-outs and Sequoia's investing partner, Roelof Botha, knew them from PayPal where he was CTO.
YouTube just launched in February and has gained a good following. If you have not used YouTube, everyone calls it flickr {just videos}. Users can upload videos in a number of different formats, although they must be less than 100 mb in total size. No YouTube converts video to a flash format, and therefore upload and playback is extremely fast. The service is free and ad-supported.
Read - YouTube Receives $3.5M in Funding From Sequoia Capital
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