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Blip Changes Name and Logo, Gains $12M in Funding

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Say good-bye to Blip.tv and hello to Blip, as the online video network removes the ".tv" to craft a new identity, one designed to separate itself from traditional television. Along with the quicker name comes a bright new logo, shown here. It's a cheery red with fat circle letters and a dot on the i that seems to be flying away like a balloon.

Along with its new identity, Blip is announcing that it has taken in $12 million in additional funding from its existing investors, including Bain Capital Ventures and Canaan Partners. It's also taken on debt from Silicon Valley Bank.

Blip plans to use the funds to create new tools and services to assist independent web series creators. It will also expand its syndication partnerships and put money into advertising and distribution.

 "Blip continues to aggressively grow its revenues, with 2011 revenues 100 percent higher than a year ago, which is very positive momentum for both our producers and for the company," says Steve Brookstein, chief operating officer for Blip.

At the recent International Academy of Web Television (IAWTV) Awards in Las Vegas, Nevada, Blip took home the trophy for Best Distribution Platform.

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