Startup ViTrue Lands Investment From Comcast, Turner Broadcasting
Posted October 25, 2006
ATLANTA — ViTrue
, a startup capitalizing on the web-based phenomenon of user-generated videos by helping individuals create advertising, has landed a couple of high-profile investors.
Comcast Interactive Capital and Turner Broadcasting said Tuesday that they had invested an undisclosed amount of capital in ViTrue. General Catalyst Partners had invested in the company earlier.
ViTrue has developed a patent-pending means of working with users to create advertising based on videos developed by consumers and using ViTrue as a third-party site. The company also works with customers to avoid copyright issues.
The new funds will be used to expand ViTrues platform and partnership efforts.
Larry Toth, managing director of Comcasts venture arm, and Dennis Quinn, executive vice president of business development for Turner Broadcasting, will join ViTrues board.
ViTrue combines an exciting vision with an experienced entrepreneur with whom weve successfully partnered many times before, said Greg Foster, vice-president of corporate development for Turner Broadcasting. The company is helping to transform consumers from silent observers of marketing messages into active, vocal contributors by providing the tools and outlets for user-generated ad content. We are excited about the opportunity to experience this first hand when TBS launches its Funny or Not? online campaign later this year.