Wikia snags $10M in new funding for video, mobile initiatives
Michelle Clancy | 03-12-2012
Wikia, host for the Web-based social communities known as 'Wikis,' has snagged $10 million in an oversubscribed round of Series C funding led by Institutional Venture Partners.
Wikia said it will use the money to accelerate its mobile and video initiatives, drive continued community and user growth, and opportunistically evaluate strategic acquisitions.
Hot on the heels of adding professional video content libraries for members to use on their pages, in 2013 Wikia will expand its platform and launch a set of integrated mobile, tablet and video capabilities, it said.
"The post-editorial world represents growing demand by brands to engage with dedicated and passionate fans that chronicle topics they know and love," said Craig Palmer, CEO of Wikia. "With this Series C funding, Wikia will advance its mission as the provider of leading collaborative publishing platform on the Web. Our focus is to enable the members of our deeply engaged communities to interact with each other and their favourite brands and topics across all platforms and devices."
Wikia's 250,000+ communities have aggregated over 100,000 videos, 14 million photos, and 5,000 hours of premium content that attract audiences across all ages, genders, geographies and interests, including gaming, entertainment and lifestyle communities such as DIY fashion, beauty, education and science.
"Wikia has organically established itself as the Web's deepest and richest destination for popular content," said Eric Liaw, principal at Institutional Venture Partners. "The company's technology platform has spawned the premier gathering place for passionate communities to engage in deep, authentic, and accurate content creation. The ability for fans and communities around the world to seamlessly interact not only with each other, but also their favourite topics and iconic brands, is a keystone of the post-editorial world. Wikia is at the forefront of this wave in social media and we are thrilled to join them and their communities in the next phase of growth."
Existing investors Bessemer Ventures Partners and Amazon.com also participated in the financing, which brings the total investment into Wikia to $25 million.