WhipClip, Led By Richard Rosenblatt, Gets $20M For Video Clipping Apps

Los Angeles-based WhipClip, a yet-to-be-launched startup led by Demand Media founder Richard Rosenblatt, revealed today that it has raised $20M in a venture funding round. The startup is tackling legal clipping of video, saying it is creating a mobile app which lets consumers clip video from television shows and share them with their friends. The company has raised funding from Raine Ventures, Institutional Venture Partners, William Morris Endeavor, Ziffren Brittenham LLP, Greycroft Partners, and angels. The funding reportedly values the startup at $100M. Whipclip is not the first, video clipping startup to emerge in the Los Angeles area technology ecosystem--among others have been (now part of Fandango) and Bubbl (backed by Warner Bros.).