Called Flip Video camcorders, they are the first that easily let you upload directly to YouTube. We reviewed Pure Digital in October, when it released a device that let you upload video to Grouper and Google in an easy way. YouTube, at the time, was too distracted with its explosive growth to consider partnering with Pure Digital.
Pure Digital boasts momentum, with its pocket-sized camcorders now rated among the best-selling camcorders in the U.S. They have double-digit percentage market share, the company says. The private company won’t release any more specifics. But the growth is enough, says chief executive Jonathan Kaplan, to justify raising $40 million more in venture backing, which the company also announces tomorrow. He said demand for the company’s initial Grouper/Google-sharing camcorders exceeded expectations, with more than half of buyers reporting using the camcorders to upload and share video. Kaplan said an IPO isn’t in the works yet. The goal is first to boost the company’s branding, he said.
The new camcorders will be available tomorrow (Tuesday) at major retailers nationwide. They retail at $119.99 for the 30-minute model and $149.99 for the 60-minute model.
The funding was co-led by AllianceBernstein L.P. and Morgan Stanley Principal Investments (MSPI). Heights Capital Management and existing Pure Digital investors Sequoia Capital, Benchmark Capital, Focus Ventures, Crescendo Ventures, Steamboat Ventures, VantagePoint Venture Partners, and Samsung participated in the round.
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