Abstract:
In this paper we will discuss about the recent business deal made by Generate, the independent next-generation management and production studio. The company foreclosed the deal in February 2008. The Velocity Interactive Group along with MK Capital is going to invest 6 million dollars in Generate. Velocity Interactive Group mainly invests in the digital media and communications sector. This deal will enable to grow Generate within a short span of time.
Generate disclosed its recent business deal in February 2008. It will get 6 million dollars investment from the Velocity Interactive Group and MK Capital, a venture capital firm.
Generate, founded in 2006, is basically an independent next-generation management and production studio. It is the first independent studio founded by the blue-chip advertisers and media leaders. Now, Generate's client list consists of a huge number young audiences and as well as some big management clients like, Janeane Garofalo, Dave Reynolds, Al Madrigal, Jon Reep, Fred Savage, Patton Oswalt,
Brian Posehn, Christian Finnegan to name a few.
Velocity Interactive Group is an investment company, which specializes in the area of digital media and communications. The company comes up with new investment idea, which brings human capital, in addition to financial capital, in its investment firms. Velocity has several offices in India, USA and China.
MK Capital is a venture capital company specializes in digital media, software and outsourced services. The Managing Members of the company has been managing six venture funds over the last twelve years. The total capital amount of the company is now more than 300 million dollars.
This business deal will help Generate to go expand quickly. Moreover, the company will be able to spend more on research and development. The rich history of Generate enticed MK Capital and Velocity Interactive Group to invest.
According to the deal, the co-founder of Generate Mr Levin, the former Chief Executive Officer of WB Network, will be the CEO of the company. The other founder members, Mr Dave Rath and Mr Kara Welker, will be running the management portion.