October 31, 2006

ESnips Secures $2m For Media Sharing Site

Marshall Kirkpatrick

17 comments »

Israel based social networking and user generated media sharing site eSnips is announcing the closure of its Series A funding with $2 million from Greylock Partners and Gemini Israel Funds. Users buy and sell art, music and other user generated content on the site. The company says it has registered nearly one million users since launching this March. See our previous coverage of eSnips here.

This is a company that takes a remarkably simple approach to serving consumer producers. They monetize storage beyond 1 GB of media and run AdSense on most pages. Purchasing items on eSnips currently goes on through PayPal. I wouldn’t be surprised if this new funding is used in part to develop or purchase an ecommerce tool that eSnips can generate revenue with. They certainly have built up a vibrant user community in a short period of time.

  • Sphere It

Trackbacks/Pings (Trackback URL)

  1. TechCrunch Japanese アーカイブ » ESnips、メディア共有サービスに$2M(200万ドル)確保
  2. Treading the VC waters
  3. Techno-fille
  4. Israel Venture Capital 2.0
  5. Israeli VC on Sand Hill road
  6. Next Intuit » Strategic Assessment of eSnips
  7. Respectance.com » 2006 » October » 31

Comments

RSS feed for comments on this post.

  1. Bill

    I’ve been using esnips for a long time now and seen downtime only once. It’s a great way to capture content you think may no longer be around at some point in the future. The ability to make the content you capture private or public is a nice touch as well. I’ve also used it to help out when sites have been slashdotted, dugg, or crunched to death temporarily.

  2. dave

    wow, a coupla things: first, i know yael elish (founder) and she is outstanding, so i have no concerns with the management team…also, and this is HUGE because people don’t seem to get it completely: this same firm produces netsnippets.com’s professional research and annotation tool (it is absolutely brilliant) and the most recent version is actually integrated with esnips - so for people who use professional research tools like netsnippets pro, esnips also functions as a remote storage and backup utility, inheriting all of the folders and rules and notes associated with the local archive….this creates an enormous element and utility that is clearly brilliant and totally unadvertised to esnips users (no need to distract them)…but for those of you who do serious research, you can also use ensips this way: use netsnippets pro just as you normally would, including all of the amazing local integration with word and browsers etc, and then simply install esnips and use the synch utility option within netsnippets to push your files and information (all private by default) to esnips…

    of course, for power sellers on this new model the netsnippets pro tool could also serve a very different purpose…

    thanks for covering this…this is an established company that’s been around for years with major customers, esnips is just a new piece of it all and a rapidly growing part of the firm…

  3. NeoTechie

    Bartering is a timeless practice that will reminds strong today. The web has given swappers worldwide a way to enjoy the benefits they once hoped for, a worldwide audience to communicate and do business with.

  4. lemon obrien

    i thought it was bad. try tamago.us if you want to see a truely open global market…its p2p, works off the desktop…

  5. Patricia

    I’ve absolutely believed in the value in combining ecommerce with social networking - we’ve never expected to ads to do it all. It’s been something in our long term revenue plan from the get go for this reason (plus being fashion focused we’re a hand/glove fit for it). This just makes me excited!

  6. automation

    Wow, a million registered users and I’ve never heard of the site. Think I’ll do a little exploring.

  7. Eric

    First Impression:
    I always hate it when new web startups post up cliche user comments about their service on their site. eSnips is one of them.

    #1. There is no credibility behind random comments from random users.

    #2. It makes it look like they’re trying too hard to sound cool.

    Cool comes from unique, creative, and intuitive design.

    In addition to these comments on their Frontpage, it on their register page. Considering you make it as far as the register page, I would assume you’ve already decided to check out their service. Providing more oblivious comments about how great their site is, is just a turn off, it suggests that they really don’t have anything better to fill up that space with. But for the sake of this assessment, I must continue…

    Read the complete strategic assessment at the Next Intuit Blog.

    http://www.nextintuit.com

  8. David Mackey

    I really like these ideas that allow users to make a little cash.

  9. The Onion

    Sorry for being negative,

    But isn’t this a company just begging to be sued? Although it is the users who share copyrighted material, it is esnips who facilitates the sharing (like any P2P network).

    Am I wrong?

  10. oussama

    je veux faire une connaisance avec une fille israelienes juive merci