ANAHEIM, CA – In January online video startup Chill, previously a platform for watching videos together with friends, relaunched as a social video discovery platform, allowing users to collect and share their favorite videos from across the web. This week, five months after relaunching, the company announced an $8 million funding round.
The funding round was led by Kleiner Perkins Caufield & Byers and William Morris Endeavor, with participation from previous investors. Beet.TV sat down with Marc Hustvedt, Head of Strategic Partnerships for Chill, at VidCon. Hustvedt believes that “video is an incredibly valuable space to be in right now” and this major investment is indicative of this.
In this video interview, Hustvedt says that Chill plans to use the $8 million primarily to invest in their engineering team. He also discusses how Chill has grown and changed since its initial launch back in August 2011 and how the online video industry is evolving.