Machinima Grabs $35M Financing
LOS ANGELES, CA, Leading video entertainment network for gamers, today announced that it has raised $35 million in a financing round led by Google.
Machinima, the world's leading video entertainment network for gamers, today announced that it has raised $35 million in a financing round led by Google Inc., with existing investors Redpoint Ventures and MK Capital participating. The announcement was made by Allen DeBevoise, Chairman and CEO of Machinima.
"With this latest round of funding, Machinima is well-positioned to make the next evolutionary step in the world of multi-channel video programming and distribution by expanding into original content, international territories, and new platforms and devices," said DeBevoise.
"Our tremendous growth as one of the world's largest online video communities, with innovative social metrics and attributes and massive mobile viewership, positions us well to lead the third wave of original video programing brands."
"Machinima has built a brand and an audience that rivals some of the biggest channels on TV," said David Lawee, Vice President of Corporate Development at Google. "The success and uniqueness of their business makes this a smart investment opportunity."
The new financing will be used to invest in Machinima's content and global sales operations, international expansion, distribution strategies, and product and technology initiatives, as the company strives to create a global video programming brand that transforms the way a new generation discovers and engages with online video and gaming content.
Machinima is the dominant video entertainment network for serious gamers around the world. The number one entertainment channel on YouTube, Machinima serves over 1.6 billion video views a month, and reaches over 168 million viewers monthly. Machinima's global content network features official publisher content, gameplay videos and original content, including over 20 original weekly shows, all aimed at the coveted 18 - 34 year old male demographic. Machinima is fast-becoming a global phenomenon with an ability to capture a cultural sensibility and awareness among a next generation of entertainment consumers and marketers alike. The company is backed by Redpoint Ventures and MK Capital, and is headquartered in Los Angeles, California.
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