by Michelle Lentz

Magnify.net is a service that allows you to create your own video channel, showcasing videos from across the Web, as well as your own Webcam captures. Magnify offers a free version and a more in-depth Pro version for content enthusiasts, online communities, and small businesses. Additionally, Magnify offers an Enterprise version for larger corporations.

For most of us though, Free is all we need. The free version allows you to build your channel, capture videos from your webcam, find videos from the more popular video sharing sites, and social networking integration. There is also an ad inventory share of 50/50, which is nice. With the free version, you retain control over your site name, URL, and design (including CSS) and can upload twenty 50-MB files per week.

The startup has raised about $750,000 in Series A1 financing, in addition to $1 million raised earlier this year. According to the Silicon Valley Insider,

Innovation Ventures led the round, and all major investors returned, including RoseTech Ventures, NextStage Capital, Ogden Capital, and individual angel investors. Magnify also took on some debt issued by Vencore.

Magnify’s clients include Taste of Home Magazine, which uses Magnify to power its Web video site. All told, almost 47,000 sites use Magnify, which is on track for 30 million video impressions this month.

Magnify.net has around 10 employees and is based in New York City.

More at CenterNetworks.

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Contact Michelle with your news, apps, and events via email at michelle[at]writetech.net, Twitter, Pownce, or FriendFeed. Visit Michelle at Wine-Girl.net and Write Technology.