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Monday, July 9, 2012

VEVO Seeks More Funds

VEVO GETTING FLUSHER: VEVO is seeking another $100-150 million in financing from private equity group Allen & Company for expansion overseas, which would peg the music video and entertainment site at a valuation as high as $1 billion, according to President/CEO Rio Caraeff. The company continues to weigh whether to continue with Google’s YouTube as their partner or explore a pairing with rival Facebook. The site also just launched a mobile web version that complements its comprehensive selection of app offerings. (7/9a)

 
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