Blip.tv gets $10.1 million to monetize Web video shows

Suggesting that there is actually a way to make money from Web-based video, a funding round led by Canaan Partners and including Bain Capital Ventures has poured $10.1 million in financing into Blip.tv. The investors hope the money will help the Web video startup continue to grow a business it started in June 2007.

"We have a business model that works, and when you have a business model that works, you have to step on the gas and accelerate its growth," Blip.tv CEO Mike Hudack told newteevee.com.

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