Podshow Gets Funded; Update: So Does Odeo

Kleiner Perkins & Sequioa have funded Adam Curry's Podshow to the tune of $8.5 Million.  I'd heard the rumor on Friday but decided not to write until it came out.   

What surprises me here is how much money they raised as a series A.   I don't know details about Podshow's business model or plans, but $8.5 Million is a serious chunk of change for a podcasting play, even assuming that they'll be incurring lots of bandwidth cost.  Maybe they'll use the funds to hire/syndicate/license branded content, I dunno...Also, assuming that the funds raised bought a minority stake in the Company means the post-money valuation is at least $17 Million and probably higher than that, making an acceptable exit acquisition that much higher.

Congrats to them for such a coup though I must admit to scratching my head a bit on this one...

Update: Ev just announced Odeo's funding by Charles River Ventures, Amicus and some pretty big heavyweight angels.  I'd kill to have a lineup like that.  Congrats guys!

Comments

[David Brewster]

Just more validation for an increasingly important platform for both content and targeted advertising. And perhaps growing awareness for celebrity podcasters/podcast networks. Very interesting to watch.