Vevo Seeks New Financing
Vevo, the online music video company, is seeking to raise new equity financing, people familiar with the company’s plans said, amid plans to expand its operations overseas.
Vevo hired Allen & Co. to look for investors, the people added. One of the people said Vevo hopes to raise $100 million to $150 million, at terms that would value the company at nearly $1 billion. Another person said Allen & Co. has pegged the video company’s value at $700 million to $800 million.