Wednesday, August 08, 2007

Venture Capital Investment in San Diego County Almost Doubles -- Including Significant Digital Media

Venture capitalists pumped over $477 million into 43 companies in San Diego County in the 2nd quarter of 2007 -- nearly 2x the amount invested during the same period last year. 2 of the top 6 investments during the quarter were to digital media companies Slacker Inc. (headed by former colleague at Musicmatch, Dennis Mudd) and Veoh Networks (until just recently, headed by Dmitry Shapiro and with new topper Steve Mitgang). Both Slacker and Veoh have ambitious plans to shake up the media business -- Slacker with personalized Internet radio anywhere (including in your car with its own hardware device), and Veoh with Internet television (trying to out-juice Joost, among others).