Former CEO and co-founder of Demand Media, Richard Rosenblatt, hasn’t rested long. Just months after leaving Demand Media, he has raised $20 million in funding for his new video clip sharing startup called WhipClip. WhipClip is an app that legally pulls clips from television shows for sharing online.
“Our vision at Whipclip is to provide a new way for consumers to share TV, in partnership with the leading networks and content providers, around some of their most popular programming and events,” said Rosenblatt in a statement. “Even as television and social media continue to converge, 70 percent of users are online while watching TV and tweeting about TV nearly 100 million times a month. There is no easy and legal way for viewers to find and share their favorite TV moments.”
So that users have a legitimate and high-quality method for finding clips, WhipClip has deals with shows on ABC, CBS and A&E Networks. The app lets users search TV archives with keywords, quotes and hashtags. WhipClip is integrated with Twitter, Facebook, Pinterest, and Tumblr and the app is currently in private beta.
Rosenblatt said the idea for WhipClip came after watching Seattle Seahawk Cornerback Richard Sherman rant after winning the NFC Championships. He wanted to show his kids the moment, but had to point to an illegally copied video of the incident on YouTube, while giving extensive instruction on what segment within the video the moment starts.
WhipClip could, if it gets big enough, be a big boost to traditional broadcasters. Neilson recently reported that live television viewership by Americans decreased slightly. Viewership of television through DVR devices and viewership of Internet video contributed to the decline. As content consumption gets more fragmented, WhipClip style sharing could give traditional broadcasters another way to engage their viewers.
WhipClip currently has 25 employees working in Santa Monica and Tel Aviv. The startup said its new capital will be used for operations and product development work. WhipClip is funded by Raine Ventures, IVP, William Morris Endeavor, Ziffren Brittenhanm LLP, Greycroft and individual investors Peter Guber, Steve Bornstein, Gordon Crawford, Thom Weisel, Scooter Braun and Ron Zuckerman.
Have a tip for us or know of a company that deserves coverage? Email us via [email protected]