Image via CrunchBase
Today Kennet announced the sale of viral video seeding network goviral to AOL for nearly $100m. This investment was a great example of Kennet's proactive approach to working with bootstrapped companies to help them achieve superior exits. The Guardian covered it here.
When we came across goviral in 2009, the business was seeing rapid take-up of its video seeding platform from advertisers eager to benefit from the viral potential of edgy commercial videos. The company was bootstrapped and profitable and didn't need external capital to maintain its growth. But the founders realised they could use an investor and adviser on board to help professionalise the business and prepare it for an eventual exit. This was the basis of Kennet's investment, led by Michael Elias.
Congratulations to the goviral team, CEO Rene Rechtman and co-founders Jimmy Maymann and Claus Moseholm, on building a European success story in online video.
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