May 18, 2009
Investor, Hearst Interactive Media Leads $1.5 Million in Series B Funding for VoxPop.TV
Based in San Francisco, one of the leading companies in pop-culture gaming, VoxPop.TV announced today that it has raised $1.5 million in series B funding with the lead investor being Hearst Interactive Media. The companyâ€™s existing investors also participated in this round of funding. VoxPop.TVâ€™s existing investors include True Ventures, which was the leader in the companyâ€™s series A round of funding in 2007.
VoxPop.TV was founded in 2006 and is a company that provides the user with games around opinions and current events. What makes VoxPop unique is that its gaming platform is changeable and provides the user with flexibility by allowing the user to convert existing content to make it relevant to the other people participating in that particular game. The games provided by VoxPop.TV allow users to generate revenue for their websites.
The companyâ€™s founders are Bill Armistead, Mike Derezin, and Michael Hoffman. According to Bill Armistead, the team at VoxPop is very excited to have such a prominent media publisher, such as Hearst Interactive Media, putting its weight behind VoxPop.TV. This investment is not only a benefit to VoxPop, but also to Hearst, because over the years Hearst has been advancing its enterprises into the online gaming industry.
Furthermore, Darcey Frisch, VP of Strategic Investments at Hearst, added that VoxPop allows publishers to engage their audience and bring in advertisers. As far as Hearst is concerned, the demand for pop culture continues to grow at a rapid pace and the casual gaming industry is becoming very appealing for many media companies, who want to tap into this market. Furthermore, Hearst Interactive Media firmly believes that VoxPop.TV is prime to expand.
Hearst Interactive Media is a subsidiary of Hearst Corporation, which holds many media outlets and newspapers throughout the United States. The role of Hearst Interactive Media is to invest into startup companies with an innovative interactive media product and in the growing online gaming industry. Some of the companies in Hearstâ€™s portfolio include BrightCove, Broadcast.com, BuzzFeed, First30Days, Gather, MobiTV, and others.
True Ventures is a vc firm that seeks entrepreneurs who show great promise in the tech industry. One thing that makes True Ventures a good firm is that ten of its partners have started up companies themselves and have the experience in doing so, providing a valuable service for the vc firmâ€™s portfolio companies. Some companies in True Ventureâ€™s portfolio include BackType, Loopfuse, StanzIQ, FitBit, RescueTime, TextDigger, and MindBites.
For more information on VoxPop.TV, click here.
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