Press Release June 27, 2012

Goodwin Helps Mobile-Video Sharing Company Viddy Secure $30 Million in New Financing

Viddy, the mobile video-sharing company that became a Goodwin Procter client through Founder’s Workbench, recently received $30 million in financing from the sale of its series B preferred stock to a group of investors.

The investors include NEA, Goldman Sachs, Khosla Ventures, and Battery Ventures.  The new wave of financing came just a few months after Viddy raised $6 million in Series A financing in February.

“Securing this additional growth capital at such a critical and exciting time was incredibly significant for our client. We’re looking forward to helping Viddy continue to make great strides in the mobile video-sharing marketplace,” said Anthony McCusker, head of the Goodwin team that advised Viddy on this latest financing.

At just over a year old, the iPhone and Facebook Timeline app developer — which is being called “Instagram for video” — has seen its number of users skyrocket from 10 million to more than 27 in the span of two weeks, adding a half million new registered users per day.  Users can post videos up to 15 seconds long to share with friends on Facebook, Twitter, Tumblr and YouTube.