Digital

VEVO seeking new investment, medium term IPO suggested

By | Published on Thursday 24 May 2012

VEVO

Given how well Facebook’s IPO went last week (companies associated with it are already facing litigation from investors), it seems VEVO is now getting all exciting about the prospect of floating on a stock exchange.

Well, there have been rumours for a while that the music-video website, powered by YouTube technology but owned by Sony Music, Universal Music and the Abu Dhabi Media Company, would look to float, though VEVO management have previously denied an IPO is on their agenda.

But according to Sky News and the Financial Times, an IPO might now indeed be on that VEVO agenda, albeit in the “medium term”. The video site is apparently seeking new investment to fund further expansion, either globally or to new devices, and – insiders claim – potential investors are being told that a cash-in flotation is expected to occur somewhere down the line.

Needless to say, VEVO is yet to comment.



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