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Tuesday, June 19, 2012
VHX Raises $1.25 Million From Lerer Ventures And Angels To Democratize Video Distribution Online
For years, independent video producers have waited for the time when it would finally make economic sense for them to cut out the middle man and distribute their content directly to their fans. Then a funny thing happened: Louis CK sold an hour-long comedy special online for just $5, DRM-free -- and it was a huge hit. Since then, a few others -- like fellow comedians Aziz Ansari and the indie producers behind Indie Game: The Movie -- have decided to try their hands at the same model, forgoing traditional delivery platforms and going straight to the consumer. It's a trend that is slowly gaining steam, and one that New York City- and San Francisco-based startup VHX is looking to take advantage of. To that end, it's raised a seed round of $1.25 million, which was led by Lerer Ventures and included participation from Bedrocket Media Ventures, indie film producer Keith Calder, Buzzfeed co-founder John S. Johnson, Wordpress' Matt Mullenweg, Reddit founder Alexis Ohanian, MTV founder and Clear Channel CEO Robert Pittman, and Chris Sacca.
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