Christian video sharing site GodTube has garnered $30 million in funding from hedge-funders GLG Partners, who value to the year-old religious site at a whopping $150 million. Not bad for a site that started out with a $300 script.

The niche video site exploded in growth last summer, but has leveled out since then and really hasn’t done much more growing. However, with a big infusion of cash, they should be able to update their site and target more of the massive Christian community and add to the estimated 2 million visitors the site receives each month.

Videos uploaded to GodTube are vigorously edited and checked over to make sure the content is acceptable to potential viewers.

One big reason GodTube is being valued so highly is their Godcaster live-streaming subscription service. Several hundred churches have paid to stream sermons and services over GodTube for a fee. It’s not hard to imagine this becoming a major way for GodTube to cash in so people can view services from their favorite church without having to leave their homes.

Thanks to Rafat Ali of paidContent for the story.

This entry was posted on Monday, May 5th, 2008 at 11:49 amand is filed under Social Media. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.