Venture Capital News: Chill Gets Hot with $8M
2012-06-27
LOS ANGELES, CA, Leading platform for social video discovery, today announced an $8 million equity investment led by Kleiner Perkins Caufield & Byers.
Chill (http://chill.com), the leading platform for social video discovery, today announced an $8 million equity investment led by Kleiner Perkins Caufield & Byers and William Morris Endeavor that will accelerate the development and distribution of its intelligent social video platform.
After launching earlier this year, Chill has grown substantially to hosts over 18 million registered users and a thriving, active community of people sharing and watching online video. Users recognize Chill as a video destination site that allows them to effortlessly view socially recommended programming from quality content partners as well as directly share videos throughout their own social graph. With the incredible influx of original, new content and the adoption of online video viewing, Chill is well positioned to lead industry innovation towards the future of consumer entertainment.
"The way people consume entertainment is radically shifting," said Brian Norgard, Chill founder. "Old technologies are giving way to a more social and personalized world where people can enjoy the best content anywhere and at any time. This is much like the early 1950s in the television industry; the only difference is now we can impact billions of customers instead of millions."
Participating partners in the round include Kleiner Perkins Caufield & Byers, William Morris Endeavor, Atlas Venture and Chris Sacca's Lowercase Capital. They join existing investors including Troy Carter, 500 Startups, Science Media, Michael Arrington's CrunchFund, Mike Jones and Redpoint Ventures.
"In a world with billions of connected smartphones, tablets and TVs, the opportunity to reimagine the future of entertainment is tremendous," said Chi-Hua Chien, Partner at Kleiner Perkins Caufield & Byers. "Chill builds upon the power of social platforms to organize video into interesting, relevant streams and distribute that content to users on the wide variety of devices they love using."
Chill is helping premium content partners like TMZ, Jimmy Kimmel Live and PUMA find and engage new audiences through social discovery. For more information and to experience the Chill's social video discovery platform, please visit chill.com
Chill
Launched in early 2012, Los Angeles based Chill (chill.com) is the leading platform for social video with over 19 million registered users who watch and share videos from friends and tastemakers. Investors include Kleiner Perkins Caufield & Byers, William Morris Endeavor (WME), Atlas Venture, Lowercase Capital, Redpoint Ventures, 500 Startups, Science Media, Paul Kedrosky, Michael Arrington's CrunchFund and Troy Carter.
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