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Video - Tuesday, May 6, 2008

For The Love of GodTube: Investors Bless Startup With $30M

GodTube, a Christian online video sharing and social networking site, has raised $30M in funding from hedge fund GLG Partners, reports PaidContent. The deal gives GodTube a $150M valuation, and follows $2.5M in seed funding from angels led by Norm Miller of Interstate Batteries.

GodTube was launched in the Spring of 2007 in Los Angeles by Christopher Wyatt (online student at Dallas Theological Seminary), Dr. Mike Miller (former Executive Pastor of First Baptist Dallas), Lloyd Chartrand (former CEO of Mentura), Michael Riddell (former EVP of New Product Development at Spark Networks), and Jason Martell (creator of Xfacts).

Godtube's growth has been, well, miraculous, so we understand investor interest. A problem that we see is that the site's revenues are based on advertising. A look at their ads confirm that they have to be very restrictive about what they will show. We suspect that their eCPMs have got to be low, low, low.

An interview with Godtube's founder. It was blocked on Godtube and could only be found on Youtube.

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