5min Receives $5 Million in Series A Financing from Spark Capital
Leading Instructional Video Startup Develops Specialized Technology for
Online Video Communities
BOSTON and TEL-AVIV, Israel, Jan. 3 /PRNewswire/ -- 5min (http://www.5min.com), the "how-to" video website, today announced it has received $5 million in Series A financing from Spark Capital. 5min is the leading online instructional video site on the Internet, allowing people to share their expertise in various categories as well as find short video solutions for every practical question. "5min has taken the clear lead in the instructional video market. The company's combination of traffic, content and technology is impressive for a company of its age," said Alex Finkelstein, principal at Spark Capital. "We believe how-to video content will garner the highest online video CPMs, because someone watching a how-to is a super-defined niche demographic and someone viewing a how-to is typically in a purchasing mindset." The 5min video structure, led by its Smart Player, was created specifically for instructional content, enabling users to play videos in slow motion or frame by frame, and to add a storyboard to leverage any visual illustration of any solution. The inline player supports zoom in and zoom out options for an up-close and detailed viewing experience, as well as subtitles in different languages. 5min has 10,000s of videos, 1000s of experts and a growing passionate DIY community. The company aggregates videos from sources ranging from user generated content to professionally produced videos. Currently based in Tel- Aviv, Israel, 5min will relocate its headquarters to New York, NY in January 2008. "We're excited to work with Spark and further enhance 5min's leading position in the online instructional video space," said Ran Harnevo, CEO of 5min. "Spark has the expertise, domain knowledge and connections that will help make 5min the how-to reference destination for consumers worldwide." About Spark Capital Spark Capital is a venture capital firm focused on building businesses that transform the distribution, management and monetization of media and content. Spark's General Partners are successful natives of the media and technology industries and have proven track records identifying and actively building market-leading companies in sectors including infrastructure (Qtera, RiverDelta, Aether Systems, Broadbus and BigBand), networks (College Sports Television, TVONE and XCOM) and services (Akamai and the Platform). With a deep network that spans technology and media, investing and operations, Spark Capital provides world-class entrepreneurs and revolutionary companies with the resources to succeed in today's marketplace. Spark Capital has $622 million under management, and is based in Boston, Mass. To learn more, visit http://www.sparkcapital.com.
SOURCE Spark Capital
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