Fullscreen Raises $30M More - L.A. "the Entertainment-Technology Capital of the World"
Culver City-based Fullscreen, which operates a multi-channel YouTube network, and is led by George Strompolos (formerly of YouTube/Google), has raised $30M in a new round of funding. The funding round, from The Chernin Group and Comcast, reportedly values the company at $110M pre-money. As entertainment and its viewers increasingly shift online, Los Angeles-based startups continue to lead the charge into the entertainment industry of the future. While the the exact makeup of the entertainment-technology industry remains to be seen, the early success and massive investments being made into LA-based YouTube network and content companies is a clear sign that this industry WILL be defined in the city of angels. Machinima, Maker Studios and Big Frame, along with others, have also scored big funding rounds and are carving their own niches into how entertainment, YouTube, and technology will all mesh together.
*Shared by Jeff Vertun, Scott Steuber & Ted Simpson