IP Democracy: Comcast, Turner Back Revver Video Site

Comcast, the nation’s leading cable operator, is making its fellow operators a little nervous by its tentative embrace of online video. After all the industry has been a cozy club since its inception because no traditional cable company really competes with its fellow operators.

All that is shifting slightly as the forward-looking Comcast sticks its toes into the video-over-IP waters (Emerging Media Dynamics and IP Media Monitor will release a report later this week on Comcast’s TV 2.0 efforts). The latest example: Comcast and Turner Broadcasting, which is owned by Time Warner, the nation’s second largest operator, have participated in video sharing site Revver’s series B funding round.

Revver is part of the burgeoning crop of video sharing sites, but with a twist. The company offers what it calls a “sponsorship marketplace” to video sharers, connecting them with advertisers and promising the prospect of revenues. Comcast, through Comcast Interactive Capital, and Turner Broadcasting were late-comers to the round, which was announced in April.

At that time, the funding raised was $8.7 million, with Bessemer Venture Partners, Draper Richards and William Randolph Hearst III joining Draper Fisher Durvetson as backers. The inclusion of Comcast and Turner boosts the funding round to $10.2 million.

Posted by Cynthia Brumfield on July 31, 2006 6:01 PM to IP Democracy