All Things Digital's Peter Kafka is reporting that AOL is buying video syndication platform 5min Media in a deal that would be worth between $50 million and $65 million. Though neither side has confirmed the report, Kafka said sources tell him it will be announced this morning.
The Israeli startup was launched in 2006 by Ran Harnevo, and has raised some $13 million to date, including $7.5 million last year. It serves as a platform for video from a variety of sources, syndicating them to publishers. ComScore said it scored 27 million unique viewers in July, who watched 116 million videos.
In June, AOL acquired three-year-old StudioNow for $36.5 million, allowing AOL to integrate a fully functional video creation platform into its newly-launched content management system, Seed.com. StudioNow helps companies create, store, and manage content and syndicate it online at an affordable price. StudioNow works with a network of more than 3,000 freelance filmmakers, editors, animators, voice talent and writers/producers, and was named to the AlwaysOn Global 250 Top Private Companies List, which honors private, emerging technology companies that create new business opportunities in high-growth markets.
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