Video service Mogulus reels in Gannett funding

About $10 million in capital will cement a partnership formed three months ago between New York-based Mogulus and the newspaper-publishing conglomerate.

Mogulus, a New York-based company that's part of the crowded pack of live-video streaming sites, has raised a new round of funding from news media conglomerate Gannett, publisher of USA Today and about two dozen other newspapers.

The two companies have had a partnership in place for the past three months, and the new investment is considered to be an extension of the partnership.

Financial terms were not formally disclosed, but a source close to the deal told us that--consistent with blog reports--the capital is about $10 million.

So far, Gannett's partnership with Mogulus has given the video site some bragging rights: when former Democratic presidential candidate Hillary Clinton made some controversial remarks about the Robert Kennedy assassination in 1968, that interview had been recorded and live-streamed on Mogulus by one of the participating Gannett newspapers--the Argus Leader of Sioux Falls, S.D. Other newspapers picked up on the remark, and the rest is (recent) history.

Besides cementing the relationship with what is probably its highest-profile client, Mogulus likely could use the extra cash: live video is bandwidth-heavy, and there are plenty of competitors in the field, from Kyte to Ustream to Additionally, the company is working on supplementing its ad-supported free service with a paid offering.

About the author

Caroline McCarthy, a CNET News staff writer, is a downtown Manhattanite happily addicted to social-media tools and restaurant blogs. Her pre-CNET resume includes interning at an IT security firm and brewing cappuccinos.


Discuss Video service Mogulus reels in Gannett funding

Conversation powered by Livefyre

Show Comments Hide Comments
Latest Articles from CNET
KLM flight sways crazily in windy landing