With virtual reality ready to make a big splash on the consumer market this year, many video services are stepping up to provide content set to take them into the next dimension. Among these competitors is the L.A.-based start-up company Vrideo, who recently underwent a round of seed funding to push its service to the next level.
Re/code recently reported that Vrideo has huge ambitions, deeming itself “the home of immersive video” in the hopes of becoming the YouTube of the virtual reality market. With this service, interested parties can upload and stream content directly to the channel, allowing those with virtual reality headsets – or regular computers, via the Vrideo website – to view to their heart’s content.
Although the site recently just launched, Vrideo recently acquired $1.8 million in seed funding across various investors, including Lere Hippeau Ventures, Advancit, Betaworks and popular rap superstar Nas. That should help the company boost its video library over the next few months – just in time for when Sony’s Project Morpheus and Facebook’s oft-delayed Oculus Rift finally come to market.
So far, Vrideo’s library is small, and there are mild concerns when it comes to having the right bandwidth and storage costs required to keep it up and running. However, the company appears ready for the challenge that lies ahead.
Accessibility will be important to Vrideo as well. CEO Alex Rosenfeld has stated that video makers won’t be charged for uploading their content, and, for the time being, all content being offered on the site is free of charge. In the future, the company may likely introduce a program where content creators can sell certain clips, and companies could come on board with interactive advertising.
There will be plenty of competition out there when virtual reality finally hits its stride in the consumer market this year, but here’s hoping that Vrideo finds its niche and builds the kind of audience – creators and viewers alike – to make a hearty dent in it.