Veoh to raise $40 million?

The video-sharing site has reportedly hired Bear Stearns to attract new investment.

Video-sharing site Veoh, which is backed by former Disney CEO Michael Eisner, is rumored to be looking for $40 million in new investments, according to Silicon Alley Insider. The company has hired Bear Stearns to raise the funds, which would give Veoh a valuation of $150 million, according to the report.

If it raises the cash, Veoh would have a war chest of more than $80 million to compete with video rivals YouTube and Joost, among others. Its investors include Goldman Sachs, Spark Capital, and Shelter Capital Partners. Other backers include Tom Freston and Jonathan Dolgen, former executives at Viacom, a content partner of Veoh.

A Veoh representative declined to comment.

Featured Video
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

Force Friday and the best of IFA 2015

Attention Jedi in training: today is Force Friday. Also, the best of IFA 2015, a new personal safety app explodes in popularity, and new 21.5-inch iMacs are coming.

by Jeff Bakalar