VYou is a shortform conversational video social network that has recently been given a boost both in terms of money and publicity. And it’s pretty addictive to use.
I’ll be honest, I’d never heard of VYou until recently, but when a startup manages to raise $3 million in Series A funding it’s a sign that you really should check out the site. And I’m very glad I did because there is a lot of promise there.
In essence VYou is a social networking platform which revolves around video. Once you create an account you can build an online persona through posting videos and respond to those posted by others.
You can also follow the various celebrities and brands which have already seen fit to take advantage of the opportunities VYou affords them. This includes the likes of Deepak Chopra, Moby, The Daily Beast, and Simon and Schuster.
As revealed by TechCrunch, VYou has acquired Series A funding to the tune of $3 million from RRE Ventures, Highland Capital Partners, High Peaks Ventures, Broadway Video Ventures, Kevin Wall, David Tisch, and Rick Webb.
Company founder Steve Spurgat stated that the money will be spent on hiring a lot of new engineers on the tech side and to improve the product with some key features. Both of which are essential if VYou is going to transcend from its current position on the sidelines and become a serious player.
The signs are good that it will achieve this, as it’s operating in a niche which has the potential to grow into a phenomenon. Social networking is a huge part of the Web now, and the online video sector needs to take advantage while the iron is hot.
VYou looks to be worthy of its initial investment, and I have no doubts there will be more to come. What is also inevitable is that the site will now see competition popping up all over the place as others try to muscle in. As long as the best rises to the top that isn’t a bad thing.