MobiTV raises further $30m for new services
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MobiTV, the US-headquartered mobile television aggregator and service provider, has raised a further $30m in funding and won two new investors, Adobe Systems and Hearst Corporation. The additional funding takes the total funding round to more than $100m following the raising of $70m in July.
MobiTV—whose principal investors also include Oak Investment Partners, Menlo Ventures, Redpoint Ventures and Gefinor Ventures—said it would use the funds to support continued growth as it rolls out mobile television services around the world, and invests in new distribution technologies including Wi-Max.
"We are truly fortunate to have garnered such a fantastic set of partners that share our vision of transforming the way people experience and interact with TV and radio wherever they are, no matter what device they happen to be watching," said MobiTV co-founder Phillip Alvelda.
MobiTV is available in the UK on 3 UK and Orange handsets; in the US via AT&T, Sprint, Cingular and Alltel; in Canada through Bell Canada, Rogers and TELUS Mobility; in Latin America through América Móvil, Claro and Telcel; and other regional carriers internationally.
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