Sportube, a Rome, Italy-based free online sports tv, raised €500k in funding.
The company intends to use the capital to further develop the platform, hire new people, and expand its marketing efforts.
Founded by Bruno Stirparo, Sportube operates a free web tv dedicated to volleyball, basketball, motorsports, etc. The web tv partners with several sports leagues including Lega Pallavolo Serie A1, Legadue (Basketball), Aci/Csai (Italian Tournament GT, Formula 3 etc.) CIV (motorbike) and F1H2O (off shore). It operates 5 channels in streaming, and an on-demand section available for iPhone, iPad and Android.
The business model is based on selling pre-roll ads.