DealZone

GodTube’s funding round gets an ‘Amen’

May 5, 2008

godtube.pngChristian video site GodTube has been blessed with a $30 million funding round from hedge fund GLG Partners, according to a report by paidContent.org, valuing the company at a whopping $150 million.

GodTube, billed by the L.A. Times as a “who’s who of U.S. Christianity,” has been racking up the page views with a “holy trinity” of user-generated video, social networking and a live webcasting service known as The Godcaster that allows churches to stream sermons and other events. In the same article, former CBS executive and GodTube CEO Chris Wyatt calls his site “Jesus 2.0″.

As paidContent notes, video startups like Metacafe and Veoh consume huge amounts of expensive bandwidth and so must raise large amounts of money. Nevertheless, it called GLG’s investment “ungodly big.”

Photo: GodTube.com

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