Is it a 2.0 Bubble?
Scoble congratulates Podshow on their second round of VC money:
Congrats to PodTech competitors Podshow, who just got $15 million in a second round of VC financing
Meanwhile, Jason Calacanis is extremely skeptical:
Lest there be no question, we are now in a full-blown bubble. What on earth Podshow is going to do with almost $25M in funding is anyone's guess, but it's not going to end well I can tell you that. To raise this money they must have had a $35-60M pre-money valuation. That means the VCs are going to look for a $300-500M exit at the very least, and that means they need to get to $30-50M in revenue. Not sure I see that happening.
What I wonder is this: what do they need that level of cash for - storage space and bandwidth? Staff? What, exactly? I have to agree with one of his commenters too: their website does suck. That may not matter that much; I get their content via iTunes. Of course, that means that most of their revenue is ad based. In a narrowcast environment, can you sell ads up to those numbers? I don't know, but it sounds like a lot.
