Thursday, May 8, 2008

God Tube Gets Manna from GLG

GodTube.com is getting a cash infusion. British hedge fund GLG Partners is reportedly pumping more than $30 million into the Dallas-based video site.

GodTube.com grew nearly 1000% during its first month and has had 1.6 million unique visitors every month since, according to comScore Inc. The Christian video-sharing and social-networking site is run by Dallas Theological Seminary student Chris Wyatt. Members of other religions are trying the same thing. JewTube gets about 175,000 visitors per month and IslamicTube is averaging 23,000.

There are major changes underway at the GLG. Fund manager Greg Coffey is leaving and may take more than $4 billion in investments with him when he sets up his own fund later this year.

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