Veoh grabs more financing

June 03, 2008 Veoh Networks, an online video service that competes with the likes of Google's YouTube and the NBC/News Corp. venture Hulu, secured another $30 million in financing, the company said Tuesday. The new funding from Intel, Adobe Systems and media investor Gordon Crawford is on top of $69.5 million previously raised by Veoh from such investors as Time Warner and former top media executives Michael Eisner, Tom Freston and Jonathan Dolgen. Veoh said it will use the new cash for beefing up its ad-targeting capabilities, creating localized versions of the service and expanding its abilities to offer video on mobile devices and TV screens.

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