Mobile video site Mywaves growing fast, despite competition

Leading video-sharing web site YouTube may have just launched a new mobile web version of its site, but startup mobile video site Mywaves doesn’t seem to care, because its growing fast around the world.

Mywaves launched towards the end of 2006, and is now getting around five million unique visitors a month, with the average user spending 24 minutes per session. A total of 18 million phones have been used to watch videos on Mywaves, it claims.

The Sunnyvale, Calif. company offers both a mobile-compatible web site and a mobile download application that lets you watch user-submitted videos, or watch professional videos provided by partners like Fox, CBS and other big media companies. The site includes user profiles, email and text messaging, a way to rate videos, and a channel for your favorite videos. It uses demographic information about users to serve them relevant videos, based on where they are in the world.

It has just released versions mobile download application for Palm Treo 680, 700p, 755p, Palm Centro and BlackBerry Pearl 8130. Windows Mobile compatibility is slated to be introduced later this year. It otherwise works on 3G, EDGE, BREW and EV-DO carriers, and other most video-capable mobile phones,

It has received funding from Menlo Ventures (some previous coverage here).

Next Story: Infinia, with $50M, becomes latest solar player to draw big investment
Previous Story: VentureBeat raises $320,000 seed round, traffic growing