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Miroma Ventures founder Marc Boyan with SBTV's Jamal Edwards
Miroma Ventures founder Marc Boyan with SBTV's Jamal Edwards
Miroma Ventures founder Marc Boyan with SBTV's Jamal Edwards

YouTube video channel SB.TV wins private equity backing

This article is more than 10 years old
Youth lifestyle broadcaster started by Jamal Edwards when he was just 16 is valued at £8m after Miroma Ventures investment

Jamal Edwards's popular YouTube video channel SB.TV is to bring on board its first private equity backer, in a deal valuing the business at £8m.

Edwards, who started SB.TV seven years ago at the age of just 16, has struck a deal with technology and music investment specialists Miroma Ventures.

Edwards has built SB.TV from its roots in urban music to more mainstream appeal – its most popular video is an exclusive of Ed Sheeran singing You Need Me, I Don't Need You which notched up 7m views, and the angel investment aims to drive the business into new areas.

London-based Miroma, which has investments including Pinterest and online fashion magazine Who What Wear, has taken a minority stake in the business for an undisclosed sum.

"I want channels on fashion, comedy, sport, business, games and gadgets all built in the SB.TV world," said Edwards. "I understand the world of youth, the urban landscape, like the back of my hand and now I want to enter the wider world."

Edwards said that he is keenly aware about the risk of expanding too rapidly and losing the startup mentality that has made the site such a success.

SB.TV has become hugely popular, accumulating more than 150m views on YouTube and hundreds of thousands of subscribers on the platform, all with a staff of just six.

"I want to talk to my audience as much as possible, carry them on my journey," said Edwards. "I am going to make a video to post about the deal".

Marc Boyan, the founder of Miroma Ventures, will take a seat on the board and said that the company has committed to a further £1m investment round "at the appropriate time in SB.TV's near future".

Boyan said that "some of the biggest media players globally" wanted to get involved in SB.TV.

He said that a hunt is on for more staff, including a managing director, and that the investment will also allow the development of SB.TV into e-commerce and onto mobile platforms, as well as live events and more merchandise.

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