24Dec

Meerkat raises $18m – live streaming video

What it is: Meerkat is a new livestreaming app that syncs up with Twitter to let you live stream and share video in real time. The app quickly became a favorite of Product Hunt users several weeks after it was posted to the startup and app discovery website. It was a hit at SXSW as well. Sources tell TechCrunch that Meerkat now has more than 300,000 users. Meerkat initially depended on Twitter for its social graph. But Twitter acquired a rival livestreaming app called Periscope and then briefly crippled Meerkat by limiting its access. From a usage standpoint, however, both apps are now seeing similar engagement.

Funding: $18.2 million from Raine Ventures, CAA Ventures, Vayner/RSE, WME, Chad Hurley, David Tisch, Ooga Labs, Aleph, Entree Capital, DreamIt Ventures, Gigi Levy, Ron Gura, Eyal Gura, PLUS Ventures, Jared Leto, Universal Music Group, Broadway Video Ventures, Comcast Ventures, SherpaShare, Vaizra Investments, Slow Ventures, Kevin Colleran, Soma Capital, Greylock Partners 

Website: http://meerkatapp.co/

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