Mevio’s latest $15m, 12 months in the making
Mevio, the Adam Curry vehicle previously known as Podshow, has closed a new round of $15 million in a round led by Crosslink Capital, that included Kleiner Perkins and Sequoia Capital. Total funding for Mevio now stands at $38 million.
It’s a round that has been a long time in the making. I heard in August last year that this exact round was close to being closed, complete with two of the three firms named today. This was back before Mevio announced its move away from user generated content as Podshow into the so-called professional offering it has today. They’ve also burnt a fair few people along the way, and at one stage the talent heading out of Podshow was a torrent.
According to Venturebeat one show on Mevio is attracting 3 million views a month, but with a monthly total of 9 million, $15m is a serious spend for a company that has already burnt through $23 million to date. And then there were rumors of Adam Curry’s eccentric spending habits, none of which I’ll repeat.
I was prepared to write off Mevio previously, but with some smart shows and a pile of extra cash, maybe this time they can make it work. Tip one: hire some one to turn the Mevio destination site into something that doesn’t say 1998.
