DECA, bringing Hollywood online, raises $5M
With the profusion of video sharing services on the internet, a number of startups are helping produce professional online content. Every Silicon Valley venture capital firm, it seems, wants to back one. DECA , a Santa Monica, Calif., studio that calls itself 'the best of Hollywood, Madison Avenue, and Silicon Valley,' is the latest to bring professional production values to computer screens and mobile phones. The company's initial funding round of $5 million would cover only a fraction of the production costs for a modern Hollywood blockbuster, but its a start. Backers are Mayfield Fund, General Catalyst Partners and Atomico Partners, the fund led by the Skype/Joost co-founder Niklas Zennström. The company is still bare on details, but it says it wants to scout for video ideas, and then develop them, finance them, and distribute them across the Web.
Source: http://venturebeat.com/2007/09/27/deca-bringing-hollywood-online-raises-5m/
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