German video startup Sevenload becomes a Burda plaything as founders step back
Sevenload has number of premium-tv-shows, music videos, but it is the IPTV aspect that Burda is understood to be planning to exploit.
Founded in 2006, Sevenload was founded by Ibrahim Evsan, Thomas Bachem and Axel Schmiegelow but only Schmiegelow stuck around when Evsan left at the beginning of the year. Investors have included T-Online Venture Fund, DLD Ventures (Hubert Burda Media), Media Ventures GmbH and dw capital GmbH.
I spoke to Schmiegelow who is at pains to stress a bright future potential for the business, and he’ll stay on board to front Sevenload’s representation with industry associations and rights holders.