Photobucket, the longstanding photo and video sharing site, is raising $9.57 million in a new equity funding round, according to regulatory documents filed this week with the Securities and Exchange Commission.
The document indicates that $5.6 million of the round has been committed as of March 11, leaving some $3.9 million of equity left to be sold. The first sale of the round occurred on February 28, according to the filing, which was pointed out in a Tweet this morning by Term Sheet‘s Dan Primack.
We’ve reached out via email and telephone to Photobucket for details and comment on the apparent fundraise. We will be sure to update this with anything we hear.
Photobucket has had a long and winding road since it was first founded nearly ten years ago in mid-2003. After raising some $14.5 million in venture capital, the company sold to MySpace in 2007 in a splashy deal valued at $250 million with an additional $50 million earn-out. After failing to integrate the service, in 2009 MySpace parent company News Corp. sold off Photobucket to Seattle photo sharing company Ontela for just around $60 million in what TechCrunch then called a “fire sale” deal. Ontela then rebranded itself as Photobucket.
In recent years, though, Photobucket has had some nice wins, inking significant partnerships such as its deal to power photos on Twitter. Last summer the company unveiled a social-focused redesign that drew comparisons to Facebook’s interface.
It may not be the newest kid on the block, but Photobucket is still a major player, with more than 100 million users, 3.5 billion images served per day. Fresh funding now could give Photobucket more fuel to grow its product offerings and partnership strategy.
Photobucket is the world’s leading dedicated photo and video sharing service. With over 100 million registered members, Photobucket users upload over four million images and videos per day from the Web, Smartphones, and connected digital cameras. Photobucket hosts, preserves and protects photos and videos while bringing members the very best browsing, sharing and editing experiences. In addition to uploading and sharing with friends and family on the Photobucket site, users can also instantly share memories across all of the...
As of December 2009, Photobucket, Inc. merged with Onatela, Inc. Together, Photobucket and Ontatela formed the Photobucket Corporation. Photobucket, Inc. operates a photo and video-sharing site that enables users to browse, save, and share photos and videos. It also enables users to upload, link, and find photos, videos, and graphics; search for videos and images in its library; and access albums on mobile phones. In addition, the company’s services include photo, video, and album sharing by email, instant messaging,...