Toronto-based Keek reportedly raising funds on $600-$900 million valuation

keek

Popular video sharing platform Keek, based out of Toronto, is reportedly raising a sizeable amount of funding based on a valuation between $600 and $900 million.

The company has been offering apps for iPhone, Android, BlackBerry and Windows Phone for some time, and provides 36 seconds for each video, along with basic editing tools to create a more professional clip than Facebook’s Instagram or Twitter’s Vine.

Video sharing has taken off in recent months as two of the largest social networks introduced their own features. Vine, which was purchased by Twitter in 2012, allows for six second videos, while Instagram gives users 15 seconds and the choice of 13 filters.

In spite of the increasingly competitive market, Keek boasts 45 million users, and has grown by 20 million since April.

While the amount of funding is not currently public, Keek raised $19 million in January and this round is expected to be significantly larger.

Via: The Globe & Mail