Richard Rosenblatt — who previously headed content-aggregation company Demand Media — is now CEO of Whipclip, a startup that promises to give users a “legal” way to share TV clips.

Whipclip investors include Raine Ventures, IVP, WME, Ziffren Brittenham, Greycroft and angel investors Peter Guber, Steve Bornstein, Gordon Crawford, Thom Weisel, Scooter Braun and Ron Zuckerman. The company has raised around $20 million, with a valuation of approximately $100 million. The funding was reported earlier by Re/code.

Whipclip has 25 employees based in Santa Monica, Calif., and Tel Aviv, Israel. The company said it’s testing content from ABC, CBS and A+E Networks.

“Our vision at Whipclip is to provide a new way for consumers to share TV, in partnership with the leading networks and content providers, around some of their most popular programming and events,” Rosenblatt said in a statement.

Rosenblatt resigned as CEO of Demand Media effective Oct. 31, 2013. Critics have labeled the company as a “content farm,” designed to exploit content creators.

Rosenblatt co-founded Demand Media in 2006. He sold Intermix Media, which owned MySpace, to News Corp. for $580 million in 2005.