AAA Google backs YouTube founders at Avos

Google backs YouTube founders at Avos

Google Ventures has helped Avos Systems, set up by Chad Hurley and Steve Chen, who co-founded video website YouTube.

The US-based search engine’s corporate venturing unit was joined in the series A, which raised an undisclosed sum on Friday, by venture firms New Enterprise Associates, Madrone Capital and China-based incubator Innovation Works.

 David Krane, a Google Ventures partner, said: "As their success at YouTube has clearly demonstrated, Chad and Steve have an amazing gift for connecting people to the content that matters to them. We are delighted to be working with the AVOS team again, and look forward to helping grow AVOS and its technology properties." Google bought YouTube for $1.6bn in 2006.

Alex Kinnier, a partner at New Enterprise Associates and Gideon Yu, the former YouTube CFO and social networkFacebook’s CFO will be joining the company’s board alongside Chad Hurley and Steve Chen.

Avos bought social bookmarking service Delicious.com in 2011 and reconverted it into a curation and discovery company. The company also runs a Chinese site called Mei.fm and is developing a discovery and creation platform called Zeen.

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