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A woman takes pictures with Nokia’s new smartphone, the Lumia 1020, with a 41-megapixel camera, after its unveiling in New York, July 11, 2013. Toronto-based Keek Inc. was an early entrant in what is now a sought-after corner of social media, the sharing of short videos. (A keek is a Scottish term for a quick peek.) Keek’s user base is soaring, with more than 45 million users worldwide as of last month.
A woman takes pictures with Nokia’s new smartphone, the Lumia 1020, with a 41-megapixel camera, after its unveiling in New York, July 11, 2013. Toronto-based Keek Inc. was an early entrant in what is now a sought-after corner of social media, the sharing of short videos. (A keek is a Scottish term for a quick peek.) Keek’s user base is soaring, with more than 45 million users worldwide as of last month.
(SHANNON STAPLETON/REUTERS)

TECHNOLOGY

Video startup's financing moving along at a good clip

Social video start-up Keek Inc. is seeking a new round of financing at a lofty valuation, but pulling it off will require the Toronto company to convince investors it can withstand the challenges to its business from Facebook Inc. and Twitter.

Keek is not yet publicly traded, so it is seeking money from institutions and wealthy individuals who invest in private companies. Bankers at Morgan Stanley are setting up meetings with investors for the proposed financing, and the valuation expectations have been set very high, said two people familiar with the plan.