Blip TV Raises $6 M., Still Searching for New CEO


The folks at Form D landed the SEC form for what appears to be a new round of funding at Blip Networks, the corporate name of So far the company has sold $6 million in shares on what would be its Series D, with the option to sell another $5 million still on the table. 

The new money was first noted by Erick Schonfeld, who also pointed out that measurement from Quantcast and Comscore show blip’s traffic to be flat and even down over the last year, averaging 1.4 million per month in recent months.

These numbers are clearly not a great reflection of the company’s reach. Before poached some of Youtube’s biggest stars, the company was reporting monthly unique views over 300 million. That’s across dozens of different video platforms, including the web sites of their video stars, big sites like Youtube and connected TV services like Boxee and Roku.

So the overall viewership on blip’s network is larger than the monthly unique visitors to their website by a factor of several hundred. Schonfeld is right to point out that blip made a point back in May of announcing a new site that they hoped would become a destination in its own right, and the traffic stats seem to indicate that is not happening. “That’s the benefit of having a network that is so much larger than your home site,” Evan Gotlib, blip’s SVP of sales told Betabeat. “You can take your time and really get it right without having to worry about growth.”

There is also a lingering question of leadership at the company. Speaking with blip this morning Betabeat learned that co-founders Mike Hudack and Dina Kaplan have both officially left the company. Cable industry vet Steve Brookstein is the acting CEO as the company continues a public search for a new leader.

Blip TV Raises $6 M., Still Searching for New CEO