When VMIX got started several years ago, the company realized that online video would be big. So why not be the mega brand in the category?
But thankfully, the company changed its strategy. "While YouTube was still young," said Greg Kostello, the CEO of VMIX, "we realized that they were getting lots of traction and may become the category killer."
As a sign of its success, VMIX raised $16.5 million last week. The investors include JK&B Capital, ATA Ventures, Mission Ventures and Enterprise Partners.
VMIX has built a rich media platform, which allows for not only videos, but also blogs, slide shows, and even social networking. "We focus on technology," said Kostello, "And our customers focus on what they are good at. That is, creating great content."
More than 190 websites use VMIX's technology – handling more than 60 million monthly unique visitors. Customers include Tribune Interactive (NYSE: TRB), Media General (NYSE: MEG), and Lee Enterprises (NYSE: LEE).
Also visit DealProfiles for more recent venture capital activity.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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