The Return of Redlasso?
This time last year, Redlasso was seeking $15 million in new VC funding to build out its beta service, which allowed bloggers to embed clips from local and national television networks. It also was trying to work out licensing agreements with various broadcasters, including three that had already asked Redlasso to cease and desist. One month later, two of the three -- Hulu backers NBC and Fox -- filed suit, effectively shutting down both Redlasso's beta and its fundraising. Pretty big hits, but not a knockout. The Philly startup spent the subsequent year switching its CEO (Ken Hayward replaced in Q1 by Redlasso co-founder and COO Al McGowan), signing local news licensing agreements (Fox affiliates announced, other local deals to be disclosed in next few weeks) and quietly raising $2 million in new VC funding (it had previously raised $9.7 million).
