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Whipclip raises $20 mln from IVP, Greycroft, Raine, others

Whipclip has raised $20 million from investors including Institutional Venture Partners, Greycroft Partners, Raine Ventures, William Morris Endeavor, Ziffren Brittenhanm and individuals Peter Guber, Steve Bornstein, Gordon Crawford, Thom Weisel, Scooter Braun and Ron Zuckerman, according to a source close to the deal.

The company was founded by former Demand Media CEO Richard Rosenblatt and Ori Birnbaum, and is developing an app that lets users legally share clips of TV shows. It launched in private beta this week.

According to a report on Re/Code, the deal valued the company at $100 million.

The company’s Web site can be found here. The Re/Code report is here.