Show me the money.
I was a little stunned yesterday when I received word via my news feeds that GodTube – the Christian version of YouTube raised 30 million dollars in funding.
Here’s a story that is either the sign of an enormous bubble or an indication that perhaps entrepreneurs need to have a bit more faith (literally and figuratively). GodTube, the YouTube for the religious, has raised $30 million at a $150 million valuation, according to Rafat Ali. The funding comes from GLG Partners, a hedge fund. [via Mashable]
GodTube was only launched last summer by Chris Wyatt, a seminarian from Dallas Theological Seminary and now reportedly has about 2 million users.
I don’t want to sound like a hater or Doubting Thomas here. Read the rest of this entry »
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