Mania TV Gets $12 Million Funding
By Rafat Ali - Mon 03 Oct 2005 11:11 AM PST
Yes, sit up now...ManiaTV, the Denver, CO-based online TV network aimed at the hyper-tasking young generation, has received $12 million in a second round of venture funding...for a total of $17 million raised since its launch in September 2004.
The investors were Centennial Ventures, Intel Capital and Benchmark Capital, one of ManiaTV’s initial investors and a firm that funded eBay.
Founder and CEO Drew Massey said ManiaTV would use the new funding on infrastructure and programming. Its payroll of about 85 employees is expected to grow to about 100 by the spring...Revenue for the privately held company will be $7 million in the next 12 month, mainly advertising.
Related: ManiaTV’s $4.6 Million Venture Funding
