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Video - Tuesday, May 8, 2007

VideoJug: How-To Video Site Must Learn How To Spend $30M Just Raised From Hedge Funds

When we first profiled UK-based DIY/How-to video site Videojug late last year we concluded that this was a smart position for online video. They throw up some professionally made how-to videos, and encourage user created videos. But we have to say we are surprised that the company has been able to raise $30M for a minority position. Videojug's valuation is now around $70M!

Private equity financier Jeremy Coller, founder of Coller Capital, has increased his stake in VideoJug as part of a $30M round. Hedge fund Sloane Robinson also participated. The company's founders have deep pockets. Dan Thompson sold his computer games company Renegade to Time Warner and co-founded 365 Corporation and took it public, along with VideoJug co-founder David Tabizel, who also co-founded Durlacher, an English investment banking firm.

Videojug competes with Israel-based 5Min, which recently raised funding.

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