Collaborative news site Digg’s cofounders, high on the hype cycle, have launched a new online video production and podcasting firm called Revision3, and have received $1 million in funding for the venture. Investors include Marc Andreessen, the founder of Netscape, and Greylock Partners, a previous investor in Digg.
The new service has a bunch of geeky video podcasts, the first one being their own, Diggnation. Digg co-founder Jay Adelson said Revision3 was already profitable and had monthly revenue from “Diggnation” alone ranging from $50,000 to $100,000. While that is modest, it happened without much effort. With the new funds, Revision3 will be able to put together an ad sales team, give regular contracts to performers, lease office and studio space and spruce up its website, the NYT story says.