Online News Video Startup Planet Daily Raises $5M

New video startup Planet Daily was announced a few weeks ago by Huffington Post co-founder Ken Lerer and former CEO Eric Hippeau. It has already raised $5 million from investors according to a Form D filed in the SEC.

The form doesn’t disclose investors but included  Fred Harman of Oak Investment Partners; Brian Bedol, founder of Bedrocket; and Nancy Tellem, former president of CBS Television Studios, as related persons.

The startup aims to bring TV-style news online and nab the “Jon Stewart market.” This project, dubbed as the “CNN Killer” is a team effort with Bedrocket, another startup funded by Lerer.

Peter Kafka of AllThingsD reported that the site will contain a mix of live-streamed and taped reports, segments from both amateur and professional contributors. The company is still hiring and hopefully will be up and running to cover the presidential elections.

Lerer and Hippeau are part of a group of former Huffington Post former executives who are moving on to new startups. Jonah Peretti started Buzzfeed and Paul Berry, former CTO, recently started Rebel Mouse. Looks like we’d be looking forward for more from the ex-HuffPo execs.

Source: Betabeat