Veoh Gets $30M From Intel, Adobe

Veoh Networks has received a $30 million bump in its bank account, thanks to a round of VC money lead by Intel and joined by Adobe and a senior VP of Capital Research Global Investors.

Existing investors Shelter Capital, Spark Capital, Goldman Sachs, Tornante Company, Time Warner Investments and Jonathan Dolgen also ponied up in this round. Veoh will use the cash to further enhance its video content, do more in video discovery, expand its advertising products and targeting capabilities, and extend its services across multiple platforms.

Outsiders should be less interested in Intel's investment and more in Adobe's. Intel Capital tends to throw money at a lot of different (and sometimes competing) pots just to place bets on anything that drives sales of faster processors. Adobe, not exactly a cash cow when compared to Intel, is selectively investing $100 million in VC money over the next three to five years in companies "leveraging Adobe platform technologies," so we can pretty much translate this into continued use of Flash and other Adobe technologies.

In the first quarter of 2008, Veoh brought in 28 million viewers who spent an average of 100 minutes per month on the site--a stickiness sure to attract and keep advertisers.

For more:
- Veoh announces $30 million VC round

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