BigThink.com, which labels itself as "YouTube for ideas" and is a site that posts video interviews with luminaries like Jimmy Carter and Stephen Hawking, has become profitable, they've announced. The site had previously received seed funding from the likes of Larry Summers and Peter Thiel.
The site's biggest source of revenue is sponsorships from companies, who want to associate themselves with the site's presumably affluent, influential audience. The site also plans to start paid features, such as career videos for universities, or written reports for hedge funds.
We're pretty excited about this news for a couple reasons.
First of all, we really like Big Think. It's great, and we watch it often.
Second of all, this shows that there is money in online media, and online video. You have to do it right, you have to be smart about it, and sometimes you need to be patient, but here it is. People have been slamming ad-supported startups in general, and online media and video startups in particular, for many years, as hopelessly unprofitable money pits, and yet we are seeing more and more example of profitable companies in these categories, like the Huffington Post most recently.
Big Think shows that online video isn't just dogs on skateboards, and that you can make high quality content online and make money doing it. Kudos.
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Full story at http://feedproxy.google.com/~r/businessinsider/~3/ypLm8n9NuPM/youtube-for-ideas-bigthink-hits-profits-2010-12
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