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.
ABS Capital Invests $30M In Alloy Digital
For all of Deadline’s headlines, follow us @Deadline on Twitter
Sign up for Newsletters
Trending Now on Deadline
More From Lieberman
- Susan Lyne Moves From AOL's Brand Group To A New Fund For Women-led Internet Ventures
- Apple Says It's Not Responsible For Theft Of Celebrity Nude Photos
- Relativity CEO Says Appointment Of Lawyer As Managing Director Will Help IPO Plans
- It's No Blip, Online Video Is Taking Ad Dollars From Traditional TV: Analyst
- Now That He's At Carmike, Can Bud Mayo Lead Theaters' Alternative Content Revolution?
- Cable Milestone: Operators Have More Broadband Subs Than TV Ones