NBC News Corp Nameless Video Website is Worth $1bln!

They don’t have a website yet. They don’t have a name yet. But what NBC and News Corp do have is a billion dollar valuation for their nameless, website-less, soon to be a major competitor to YouTube…proposal video website!

That doesn’t make sense does it?

This comes as Providence Equity Partners, a Rhode Island based private equity firm, has staked the venture $100 million in return for 10% of the enterprise.

The NBC News Corp website doesn’t have a name yet, but apparently Google executives call it “Clown Co.” behind closed doors.

This “company” didn’t even exist three months ago, and now its worth one billion dollars.

This seems crazy as YouTube has to work its way through $1million monthly bandwidth costs emerge as the biggest video website in the world before they got bought by Google for $1.65 billion.

Clown Co. hasn’t even launched and yet its already more than half way there!

Comment on this nonsense below if you like, I am still trying to get my head around this!

Source

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