Web TV

Blip Networks Hires New CEO Four Months After Cofounders Left

Ms. Day.

Q: How long does it take to find a new CEO after you raise $12 million? A: Not that long, it turns out. Go figure. Brooklyn-basedNew York-based Blip, which recently dropped the .tv and added a Networks, may not be a startup anymore. It’s more than six years old, its founders have already flown the nest, and it just hired a grownup CEO after a four-month search.

Kelly Day, EVP and general manager of digital media and commerce at Discovery Communications, will “take responsibility for the Company’s next phase of growth for its industry-leading advertising and distribution platforms,” according to a press release that comes about a month after Blip announced the fresh millions. Read More

Venture Capitalism

Romney’s Former Firm Bain Capital Joins $12 M Round In Brooklyn-Based Blip Networks

blip

Finally, a Bain Capital story that doesn’t involve the term “vulture capital.” This morning, Blip, a video network highlighting original web series, announced a financing round of more than $12 million. Bain Capital Ventures, Canaan Partners, and other previous investors contributed $6.5 million as well as debt from Silicon Valley Bank totaling about $6 million.

The company, formerly known as Blip.tv, filed a Form D in December of last year, signifying that they had already raised $6 million from Bain and Canaan Partners.

In the press release, Blip claimed revenue had grown 100 percent year-over-year thanks to 13 million monthly uniques in the U.S. and 30 million monthly viewers globally. The new funding, said Blip, will be used to develop tools and services for web series producers, invest in its advertising and distribution platforms, and “significantly expand” syndication relationships.

Betabeat spoke with Blip COO Steve Brookstein to talk about the competition for eyeballs, whether YouTube is a friend or foe, and if he’s voting for Bain founder Mitt Romney. Read More