Video Sharing Service Vidme Nabs $3.2 Million Investment

Video sharing service Vidme has just nabbed a $3.2 million investment after closing their seed round.

Reddit co-founder Alexis Ohanian’s Initialized fund and Mark Suster of Upfront Ventures are two of many investors offering seed money to speed up the young start-up’s continued growth. Upfront in particular has a long history with video startups, having been Maker Studios’ largest shareholder at the time of their $500 million acquisition by Disney last year.

Vidme had humble beginnings as a mere test project built by the Los Angeles based project lab Bit Kitchen. Co-founders Alex Benzer and Warren Shaeffer worked together at TechStars-backed social media start-up SocialEngine before leaving to build out a team at Bit Kitchen with the aim of quickly building a releasing products to see if the public will take to them.

Vidme was their third project, and after falling into the good graces of the Reddit community shortly after its January 2014 launch, the service earned 140,000 unique visitors in its first month alone. Since then, it has grown to 30 million monthly uniques, according to TechCruch.

This success is, in part, due to the service’s sheer simplicity. There is a single step upload process, which appears to be modeled on the simplicity of Reddit’s favorite image sharing service Imgur.

Vidme Site UX

Anyone can go to Vidme’s website at any time and without having to take the time to create an account, select a file and upload it to straight their platform. Once the video is uploaded, Vidme immediately provides a mobile-friendly link that can be shared with friends, social networks, Reddit, or the wider public.

Vidme’s early success was, largely, because it quickly became Reddit users’ favorite destination to upload ‘mirrors’ whenever there’s a risk of a popular video being deleted from a larger service like YouTube.

Now, they’re starting to grow into a more robust video platform with new features that could see the service rival the likes of YouTube.

Their new homepage does an adequate job of featuring the most popular videos of the day as users begin to upload a greater variety of content to the service. Category pages like Animation, Aww, and Funny also do well at surfacing specific content users may be searching for.

The company, which has had an Android app for some time now, just released its first iOS app last week.

Stephen Doble

From his London office, Stephen leads our new media industry coverage at Videoter.

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