Adam Curry’s San Francisco-based PodShow just announced a few hours ago that they’ve managed to raise $15 million funding in Series B (they got $8.85 million in the first round last summer). PodShow is a startup that promotes, hosts, and manages quality online on-demand programming and most notably the company behind the PodSafe Music Network which gives podcasters the exclusive right to play certain music that would otherwise be considered ‘breaking the law.’
First and foremost, I think podcasting is one of those things which isn’t really as big as it sounds right now, but has the potential to grow. Investors and VCs who are rapidly investing in this space (most recently Revision3 who got away with $1 million) are doing so on purely this basis — it’s not about now, but the years to come. As Jason Calacanis points out, the VCs are looking for a $300 – $500 million exit with PodShow which I really don’t think they’re going to get.
Of course, to grow big they have to start small and that’s sort of what they’ve been doing. This time last year you’ll remember they scooped up Podcast Alley and with $15 million more in their hand, who knows who they’ll do next.
[tags]Podcasting, PodShow, Investments, Bubble[/tags]
