Podcasting firm gets investment boost
Published: 17 Aug 2005 09:45 BST
In an apparent sign that podcasting has won the confidence of the market, three venture capital firms have come forward to back a start-up focused on the technology.
Privately held PodShow has received $8.85m (£4.89m) in strategic investments from Kleiner Perkins Caufield & Byers, Sequoia Capital and Sherpalo Ventures, the company said Tuesday.
PodShow, founded last year by former MTV video jockey Adam Curry and Ron Bloom, produces content and provides podcasters with the tools and systems to create, distribute and market their programs.
Podcasts are radio-like shows that can be automatically downloaded from the Internet to a computer or digital music player via the use of RSS feeds or similar systems.
PodShow, named after Curry's show on Sirius satellite radio, also manages a network of podcasters and operates a podcast directory. PodShow said it will use the new funds to develop and support the content, tools and technologies at the heart of the medium.
Ray Lane and John Doerr of Kleiner Perkins will join Curry and Bloom on the board of directors of PodShow.
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