Viddy, a social mobile app for sharing bite-size videos, is reportedly planning to raise $30 million, putting the company's valuation between $350 million and $370 million. Yes, you read those amounts correctly. Viddy is to video what Instagram is to photos (and we all know how much investors are willing to pay for that kind of application). About a year ago, Viddy raised $2.2 million of seed funding from Battery Ventures, Bessemer Ventures, Qualcomm and Greycroft Ventures. Then, in February, it secured $6 million in Series A funding from those same VCs, along with angel assistance from celebrities—among them, Shakira—and tech influencers including Biz Stone. Viddy has features like visual effects and audio to refine short mobile clips into polished snippets. Then, like Instagram, Viddy users share their final creations through Facebook, Twitter and YouTube.
Nine rounds of $30 million or more have been raised by seven companies involved in the Social/Platform Software industry. If Viddy raises the amount it seeks, it could add the tenth $30 million round and join this illustrious list of current and formerly VC-backed companies that have bagged huge financings: Datran Media (raised two rounds over $30 million!), Campus Pipeline, Manta Media, Tango (also raised two rounds over $30 million!), Moxie Software, Evite and Zoosk. According to the PitchBook Platform, VC investors have completed 353 deals in the Social/Platform Software industry ... so far.