January 10, 2007
As you probably saw (unless you live under a rock) Polaris stepped up for another big funding of Heavy.com, whom we initially backed with a $10MM investment just over a year ago.
We love backing our winners, and we think Heavy is going to be a big winner.
Even old time media execs now agree that broadband and the web generally is fundamentally changing the rules and that the media landscape is consequently changing, big time.
In our view, this spells big opportunity for great entrepreneurs who (a) have established a very strong early position in the new broadband media world; (b) have the vision of what a leading 21st Century Media company will look like; (c) and have the ability and resources to execute on that vision.
Back to Heavy. We think Simon and David, the Heavy founders, are as talented a combo of web entrepreneurs you’ll find; in 2006 they were, according to ComScore, the most visited private video website (and the 6th largest video site overall), and already established a great revenue base; they have great vision as to where all this is going; and have bolstered their own talents with some great industry leaders, including the likes of Doug Rohrer, the former head of Ad Sales from MTV Networks. They just might need a bit more capital to get the job done.
Which we were more than happy to provide, especially since it gave us an opportunity to increase our stake… :))