Thursday, October 21, 2010

Poptent Confirms $3M Funding

San Clemente-based Poptent, an online site for crowdsourced video content for advertisers, has raised $3M in a Series A investment round, it new investor has confirmed. According to Los Angeles-based MK Capital, it made the investment in Poptent, led by partner Yair Landau. As part of the funding, MK Capital said Poptent has hired Andy Jedynak as CEO. MK Capital said its other investments include Machinima, Geodelic, and Generate. Poptent uses crowdsourcing to provide advertising and other video to brands, via competitions run on its site, saying that it allows advertisers to create ads for a "fraction of the cost" of traditional advertising methods. The firm had previously been known as XLNTads. The funding had been originally been uncovered yesterday by socalTECH. More information »

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