Gigaom | Machinima.com Adds $1.7 Million, Launches Online Video Game Awards
Summary
Chairman and CEO Allen DeBevoise said the money came from previous backer MK Capital; the company is calling it an add-on to its first round, with the potential to raise a total of of $2.5 million, if necessary. DeBevoise said Machinima.com’s viewer metrics had “tripled” since the company raised money last year; its content is attracting over 60 million video views per month — up from 20 million last November — with most of the traffic split between Machinima.com’s YouTube channel and the website itself. The UGC element allows game companies to extend the life of their franchises. Microsoft (NSDQ: MSFT) launched Halo 3 in 2007, for example, but DeBevoise said the company was able to sell “millions of views” for a Halo 3-related series this year, because the audience was still engaged with the brand. Meanwhile, Machinima.com launched an iPhone app this year; DeBevoise said it will get new upgrades, and the company plans to relaunch its main site in Q1.