GodTube Raises $30 Million
GodTube, a faith-based YouTube of sorts, has raised $30 million at a $150 million valuation. The funding comes from GLG Partners, a hedge fund. It is not GodTube’s technology that sets it apart but rather that the service caters to a very specific yet huge audience.
Christian television is enormous in the US, and GodTube has been able to capitalize on people’s desire for religious programming by taking the proven concept of video sharing, a brand name clearly inspired (although some would say stolen) by a market leader, and industry best practices to become a big business.
As Mashable noted in August, the site actually got its start running on a $300 script. It simply exploded from there, entering the top 1000 web sites in September and never looking back.