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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.

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