Next New Networks Raises $19.4 Million Amid YouTube Acquisition Rumors
While Google’s YouTube is reportedly in talks to buy Web content producer Next New Networks, the New York-based startup has just filed with the SEC in relation to $19.4 million in equity financing according to this filing.
Here’s what I wrote back then:
The potential acquisition of NNN, which also manages a network of independent filmmakers alongside producing its own channels, would give YouTube its first step into producing Web videos in-house.
This would be not only a shot in the arm for the video sharing site proper – upping its ability to squeeze more advertising dollars out of the popular service – but also for Google TV.
According to the WSJ, a deal between YouTube and Next New Networks worth ‘tens of millions of dollars’ could be announced in the coming week.
There’s also this noteworthy statement in the filing with regards to the financing:
The securities contained within this filing were offered and issued in connection with several distinct transactions between 2007 and 2010. No individual offering lasted more than one year.
Since the date of first sale was 2007-05-03, the filing pretty much confirms the Google-NNN deal is done.
We’ll update with more information as soon as possible.
NNN investors include Fuse Capital, Spark Capital, Saban Capital Group and Goldman Sachs.
- Next New Networks Raises $1 Million Amid YouTube Acquisition Rumors
- Cloud-Based Networking Company Aerohive Networks Raises $25 Million
- YouTube Acquires Next New Networks, Introduces ‘YouTube Next’ Training Squad
- The Rubicon Project Raises Another $18 Million, Completes Fox Audience Network Acquisition
- The Truth About Why Path Turned Down A $100 Million Acquisition Offer From Google