NewCo ramping up to battle YouTube

NBC and News Corps NewCo shopping for financingNot happy with how YouTube deals with copyrighted materials, NBC and News Corp. have been on the move to create a joint venture that would crunch YouTube for what seems like ages. Now they are shopping around to raise cash for their currently unnamed product.

NewTeeVee has the scoop on the NewCo team hitting up VC's from New York to Silicon Valley to fund their venture, and reportedly looking to get at least $100 Million, on a $1 Billion valuation. So far, no luck on investments for, what was believed by these companies, to be a killer online video channel showcasing their own material.

Will this new company be able to come close to the popularity of YouTube? Chances are no. YouTube's traffic is increasing daily, and growing across all markets, while this new company is still having troubles even getting started.

No comments:

Recent Posts