Overview

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Status
Acquired by on August 23, 2006
Total Equity Funding
$1.75M in 1 Round from 2 Investors
Headquarters:
Culver City, CA
Description:
Crackle is a multi-platform video entertainment network and studio, distributing movies, TV shows and programs in users’ favorite genres.
Founders:
, , , ,
Categories:
Internet, Content, Consumer Electronics, Video
Website:
http://www.crackle.com
Social:

Company Details

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Founded:
2004
Aliases:
Grouper.com
Employees:
1 in Crunchbase

Founded as Grouper in 2004, the Sony owned Crackle has taken a long and eventful path to its current status. Finding itself far behind competitor YouTube in terms of pure user numbers, the company (then grouper) began differentiating its product by changing its architecture. Originally a downloadable program, grouper became browser based and added a desktop video editor and a closed P2P content distribution element to its arsenal. With perfect software for a major distributor but a lack of users, Grouper was a prime target for acquisition and was bought by Sony for $65 million, approaching $120 per user by some estimates.

Reportedly Grouper turned down a $10 million second round of financing to gain the content support of the major media company. President of Grouper, David Samuel, was no stranger to acquisitions, having sold his old company, Spinner.com, to AOL in 1999 for $320 million. Grouper was set to become a distribution platform for Sony's vast video catalogue, a streaming video site for lower quality video and a place where fans could make mashups of Sony Content.

Grouper was quiet for a while after its acquisition, however, it was reborn Crackle after a complete overhaul of its website in July of 2007. Crackle is now a destination video site for professional producers and anyone hoping to become one. Crackle consists of 12 channels which range in flavor from animation to news. Crackle is ad supported.

Although Crackle still lacks in user numbers, it has an incredible asset in Sony and its expansive media empire. Few other startups can match what Crackle can now offer.

Funding Rounds (1) - $1.75M

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DateAmount / RoundValuationLead InvestorInvestors
Dec, 2005$1.75M / Series A2

Investors (2)

InvestorRound(s)Partner(s)
Series A (Lead)-
Series A (Lead)-

Current Team (1)

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Board Members and Advisors (1)

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Products (1)

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  • Crackle users battle each other to the top of the pyramid in hopes of getting their work distributed across Sony's network.

Competitors (5)

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  • Camsta is an internet TV network that gives worldwide viewers direct access to exclusive and live streaming video contents.
  • Dailymotion is a video-sharing website that allows users to upload, watch and share videos.
  • Motionbox is a video sharing service providing video format support and online space for sharing high-definition personal videos.
  • Veoh is an Internet TV service enabling viewers to discover, watch and personalize their online viewing experience.
  • YouTube, a video-sharing platform, allows users to upload, view and share videos, including movie and music clips and amateur content.

Offices/Locations (1)

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  • Office

    10202 W. Washington Blvd

    SPP 1127b

    Culver City, CA 90232

    USA

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