Former Hulu Chief Kilar Raises $58 Million for Vessel Video Site
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Vessel, the closely held video startup led by former Hulu chief Jason Kilar, has raised $57.5 million more to fund its new subscription business for short-form video, according to a person with knowledge of the matter.
The investment was led by Institutional Venture Partners, Mr. Kilar said in a statement announcing the funding round without providing a sum or valuation for the company. At $57.5 million, however, it brings Vessel’s outside funding to more than $134 million. The new round includes investors previously tapped by Kilar, including Benchmark Capital, Greylock Partners and Bezos Expeditions, the personal investment company of Amazon.com Inc.’s Jeff Bezos.
The company is trying to emulate Netflix’s subscription business with a focus on short-form video. That brings it into direct competition with Google’s YouTube, which is also developing a subscription product.
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