Business Week reports that Kleiner Perkins Caufield and Byers have invested $10 million in Adam Curry’s podcast network:
This month, pioneer Adam Curry is launching a podcast network, with 30 to 50 shows that will split ad revenues. The concept won Curry a $9.8 million investment from Kleiner Perkins Caufield & Byers and Sequoia Capital, two top venture firms in Silicon Valley. "We saw the amazing adoption across the Net, and it was obvious that there was a big opportunity," says Mark Kvamme, a partner at Sequoia.
After spending 5 minutes with my 5G iPod (VidPod, VodPod?) the killer app is the video- not the voice. I already have several Podcasts (Vodcasts?) that are video-based. Jamming advertising into those podcasts would be a piece of cake. (Check out Channel Frederator if you haven’t already)
With acquisitions like Weblogs Inc. by big media- there’s an incentive to grab viewers/listeners/readers. I’m not sure how they’re going to spend that $10 million, but I’m sure they’ll find a way to do it. Will it give KPCB 50x their money in a (few) year’s time? Doubtful, but they have the connections to sell the network on at a healthy return.