Singapore-based Viki raises 4.3 million in Series A funding
ViiKii, the crowdsourced video subtitling startup that we rote about last month has just received funding to the tune of US 4.3 million and underwent a name change to simply ViKi, with two i’s instead of four as it moves out of beta.By Aulia Masna 10 Dec, 2010
The series A funding incorporates funds from a number of major investors including Greylock Partners, Charles River Ventures, Singapore’s own Neoteny Labs, and Marc Andreessen Horowitz among others, according to the press release
“ViKi opens new markets for content owners, by finding new audiences and revenue streams. ViKi also helps consumers by introducing them to new and unique international video content they may not have found otherwise,” said Reid Hoffman, Partner at Greylock, and investor in key platforms and networks such as Facebook, Zynga and Flickr.
ViKi help popularize Korean drama series Playful Kiss which was produced by Group 8. its CEO Song Byung Joon said, “We’ve partnered with ViKi on several series, and are extremely happy to see how our old and new shows are generating significant new revenues for us from new markets.”
The series was subtitled in over 40 languages and half of which were completed in the first 24 hours.
Viki provides subtitling for over 140 languages including Klingon and has over 1 billion streams nice it began.