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Dallas-based GodTube Raises $30MM!

May 7, 2008

/files/2008/05/godtube.jpgDallas-based GodTube (actually located in the burbs called Plano) raised $30MM from GLG Partners.  GLG is  a publicly traded hedge fund (NYSE:GLG) that recently lost its key funds manager, Greg Coffey (he managed $6 billion of the company’s $24 billion fund).  The fund believes it will lose at least $4 billion based on his surprise departure.  GodTube, a video sharing site for Christians, host videos such as this one: The Worlds Strongest Redneck.

Chris Wyatt, the CEO of GodTube, previously raised around $2.5MM from angel investors including Norm Miller of Interstate Batteries.  With more than 2,000,000 regular viewers, the site generates revenue from various services including its ‘Godcaster’ program used by a few hundred churches who pay a monthly subscription feed.  Of course, GodTube isn’t the first YouTube clone to make it big, the folks at RuTube recently sold for $15MM.

Written by Alexander Muse · Filed Under Blog, Startups 

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