The company "is close to" retaining investment banking firm Allen & Co. to help it raise upward of $100 million to $150 million, people with knowledge of the plans told the outlets. Some sources said the terms would value the company at nearly $1 billion; another said Allen & Co. has pegged the video company's value at $700 million to $800 million.
Possible investors contacted by the bank on Vevo's behalf include Facebook, Yahoo, Amazon and Google the latter of which owns YouTube, the main platform for Vevo's videos.
Of the companies, only Google offered comment: "Vevo is a great partner that has built large audiences on YouTube. We hope to continue our fruitful relationship with them." Another source said Vevo owners -- Universal Music Group, Sony Music and and Abu Dhabi Media, are not planning on selling their stakes in the company.
Vevo is expected to generate $280 million in revenue this year, according to one source familiar with the situation, up from $150 million last year. In May, Vevo drew 48.3 million unique viewers who spent close to an hour watching its music and concert videos in the U.S., making it the No. 3 site for video, after Google and Yahoo, according to ComScore.
Vevo rolled out big statistics and plans at its flashy first upfront earlier this year, including six original series.