Viddy Raises New Funding from All-Star Cast

By Michael Carney , written on April 23, 2012

From The News Desk

Viddy, which recently rocketed to become the #1 free iOS app, has raised a new round of financing from some very prominent technology and entertainment investors.

Information is still coming in, but we’ve learned that the investors in this round include Twitter co-founder Biz Stone, founder of Omniture & Domo Josh James, chairman of Skull Candy & CEO of Stance Jeff Kearl, Jay-Z & Jay Brown’s Roc Nation, Will Smith’s investment company Overbrook Entertainment, founder of ShoeDazzle & The Honest Company Brian Lee, professional skateboarder and reality TV celebrity Rob Dyrdek, international soccer star Gerard Pique, and Latin pop megastar Shakira.

It seems that these latest investors were allowed to join an earlier round completed in February of this year, which at the time was $6 million and included Battery Ventures, Greycroft Ventures, Qualcomm, Bessemer Ventures, and several angels.

Viddy, which can be described in Silicon Valley parlance as “Instagram for video,” has been on an unbelievable growth spurt in recent weeks. This buzz has only accelerated by the $1 billion acquisition of the photo sharing service by Facebook. Viddy, which is similarly available only to iPhone users, currently has more than 10 million users — up from 5 million just two weeks ago — allowing users to capture, edit, and share 15-second videos from the iPhone.

The service is currently averaging more than 100 million new videos per month. With the recent financing, the Viddy team looks to take another play out of the Instagram book and expand to Android, as well as add iPad optimization.

For those who weren't aware of the service until today, which shouldn’t be too many, this will raise a few eyebrows. With the rapid growth and the current frothy climate, it’s not a stretch to expect acquisition offers to follow. If the service see a similar explosion in users after its platform expansion, and can leverage the recently added celebrity backers, watch out!