Online video site Revision3 has raised an $8 million second round of financing, according to a source close to the deal, bringing the total capital raised to $9 million. Our understanding is that Greylock led the round. Greylock was also the primary investor in Revision3’s $1 million first round of financing. News startup Digg, which shares founders Kevin Rose and Jay Adelson with Revision3, also raised money twice from Greylock.
Revision3 now has exclusive rights to ten shows and is continuing to add more talent over time. Diggnation, however, is by far the largest and most popular. Revenue is generated via integrated advertising, where the show hosts discuss the advertised products directly.
This rumor has not yet been confirmed by the company, who isn’t responding to our request for comment. Our source also says that CEO Jay Adelson may soon be stepping aside and focusing exclusively on Digg, which he also runs. The company may have already begun a new CEO search.
Sample show below from PixelPerfect, another popular show: