Here’s more financial fuel for the company behind YouTube’s young adult oriented SMOSH and Clevver Media. Alloy Digital CEO Matt Diamond says the cash will enable his company to “rapidly accelerate future growth by adding complementary, relevant properties and talent.” ABS Capital Partners General Partner Deric Emry — who just joined the Alloy board — adds that the Series A financing is “an extremely attractive investment opportunity” partly because digital media are growing so quickly. Since there’s still “an imbalance between time spent online and dollars spent by blue-chip advertisers,” ABS foresees “a significant opportunity for future growth as multi-platform media formats are expected to grow at a much greater rate than television.” In January Alloy announced that SMOSH had become the No. 1 YouTube channel measured by subscribers.
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This article was printed from http://www.deadline.com/2013/03/abs-capital-invests-30m-in-alloy-digital/