Not too long ago, business for dance-focused YouTube network DanceOn was so challenging that the company’s future was uncertain. Then along came Verizon, looking for programming for its go90 mobile video app.
With a roughly $20 million multi-year deal—big money for a company that has only raised $4 million—Verizon has given DanceOn a new lease on life. It was able to postpone trying to raise money, in what has become a sluggish market, according to two people familiar with the situation. (DanceOn says its business was "thriving" before the go90 deal and that company revenue grew in 2015.)