Nigerian-Owned Online Video Marketplace, PublicVine Receives Around $10 Million “Series A” Investment

US-based online and mobile social video marketplace, PublicVine founded by Nigerian entrepreneur, Nam Mokwunye, has received “Series A” investment of around $10 million as it plans to commence its global commercial launch in June 2014.
 
The platform has been designed like a shopping mall for video vendors to open their own online and mobile video stores to rent and sell their video content including music videos, documentaries, films, etc to consumers globally.

Prior to its June 6 launch date, PublicVine is organising video vendor registration events (VVREs) in the US, Nigeria and South Africa in order to pioneer a new innovation in online video distribution in Africa.
PublicVine could as well be a YouTube competitor as it wants to enable video vendors and their consumers to connect, transact, and get paid, according to Mokwunye in a BusinessDay story published yesterday.
Mokwunye, who is an MBA from the University of Massachusetts, was the former CEO of XS Broadband (later sold to MTN for $32 million in 2007), a fixed wireless access licensee which covered 24 states, including Lagos. He is also the founder of TranSahel, a $100 million healthcare technology project for Africa. culled from here