MobiTV hits the VC jackpot, lands $70 million

by Chris Ziegler, posted Jul 16th 2006 at 5:17PM

Perhaps looking to get a quick hit of cash before the onslaught of competing services gets into full swing, MobiTV has announced a deal with Oak Investment Partners, a venture capital firm, to provide $70 million in exchange for a board seat. No word on what kind of spending spree will ensue, but MobiTV's saying that the cash will "fuel the Company's rapid expansion in response to the overwhelming demand for its mobile television and radio service across international markets." To their credit, the numbers show that these guys are growing pretty rapidly, clocking over a million total subscribers at latest count -- not bad for a company whose domestic carrier partners have launched at least partially competitive services. Having sampled MobiRadio, though, we'll say this much: we hope a few bucks of that VC cash goes toward offering higher-bitrate streams.

[Via BusinessWeek]

Filed under: Multimedia, Software

Tags: dtv, mobile tv, MobileTv, mobiradio, mobitv, oak investment partners, OakInvestmentPartners, stream, streaming, streaming video, StreamingVideo, tv, vc, venture capital, VentureCapital, video

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Reader Comments (Page 1 of 1)

Neutral

-_- @ Jul 16th 2006 7:30PM

holy crap! how can mobitv get any better than it already is?! i haven't sampled mobiradio yet, but mobitv rocks so hard, it'll make your neighbors deaf!
seriously, it's awesome.

Neutral

Kevin @ Jul 17th 2006 5:50PM

MobiTV is actually a pretty good mobile provider, and $70M is a large investment, so they can only get better. Perhaps our TasteTV and TasteTV.com will take a closer look at adding our content to their lineup.

Neutral

Sean @ Jul 18th 2006 7:07AM

We have a mobile phone streaming video and audio site called ZooVision. http://www.zoovision.com/mobile.html We would be interested in bring your videos to the mobile world.

Right now we stream to mobiles in the 3gp and Windows media format. This allows us to reach millions of mobile users all over the world. If you are interested in speaking to us about how we might be able to work together visit our site and our contact info is there. The contact us form didn't seem to work on your site. Thanks! Sean

Neutral

RH @ Jul 18th 2006 9:10AM

Why wasn't T-Mobile invited to the party?

Neutral

Kevin @ Jul 19th 2006 2:02AM

Sean, drop us a line. The contact form was being upgraded when you tried. interested in hearing more. TasteTV and TasteTV.com

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