Joyus, a startup aiming to build a QVC for a new generation, has raised $24 million in new investments. The round was led by Disney venture arm Steamboat Ventures and Marker LLC.
Joyus Nabs $24 Million to Bring Shoppable Videos to Facebook and Beyond
The startup is aiming to build a QVC for a new generation.
Joyus
Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He was a senior correspondent at Vox.
Joyus produces online videos that feature fashion, beauty and health products that can be purchased from the Joyus website or through a special Joyus video player when a video is viewed on other sites around the Web. The company typically makes money by taking a 40 percent to 60 percent cut of the sales of products featured in its videos.
Joyus founder Sukhinder Singh Cassidy said the new funds will be used to build out its studio space and boost both the amount and the quality of video it produces. The company will also get more aggressive in cutting distribution deals to seed the videos around the Web. Around 75 percent of Joyus video views currently happen off of Joyus.com, on the websites of publishers such as People, AOL and Yahoo. Joyus shares revenue with the publishers running its videos.
“Video viewing is fragmenting, not consolidating,” Cassidy said. “Now you have to think about Facebook, [over-the-top] streaming, AOL, Yahoo and YouTube.”
Past Joyus investors Interwest, Accel Partners and Time Warner Investments contributed to the new round.
This article originally appeared on Recode.net.
