FameBit Raises $1.4 MillionMonday, June 23, 2014
FameBit, a 6-month-old Santa Monica startup that connects YouTube video creators with advertisers, has raised a $1.4 million seed round led by Science Inc., 500Startups, DeNA and Machinima founder Allen DeBevoise.
Founded in January by Agnes Kozera and Dave Kierzkowski, FameBit connects marketers with YouTube stars who could potentially promote their products in videos.
FameBit takes a 20 percent cut of each deal and said in a report that it expected to generate $3 million in revenue by the end of the year.
The company’s founders said in an email to the Business Journal that the funding will be used to fuel growth and scale its team of employees.
Kozera and Kierzkowski said that FameBit plans to include “more social layers” to its offerings in the near future, meaning brands could pay talent an additional fee to promote products on platforms like Twitter and Instagram.