Mobile TV, Radio Delivery Firm MobiTV Raises $100 Million

Authored by Mark Hefflinger on November 2, 2006 - 1:59pm.

Emeryville, Calif. - MobiTV, a developer of mobile TV and radio delivery technologies, announced on Thursday that it has raised over $100 million in its third round of venture capital financing.

New investors Adobe Systems and Hearst Corporation led the investment round, which generated an extra $30 million before closing. Oak Investment Partners, Menlo Ventures, Redpoint Ventures and Gefinor Ventures also participated.

Emeryville, Calif.-based MobiTV's technology powers mobile TV and radio services offered by AT&T, Sprint, Cingular and Alltel in the U.S.; Bell, Rogers and Telus Mobility in Canada; 3UK and Orange in the U.K.; and other carriers in Latin American and other regions.

The company said it has been investing heavily in networking and media delivery technology and infrastructure, and is committed to further developing open standards and protocols. MobiTV, which claims more than one million paying subscribers for its services, said it will use the funds for continued growth.

Related Links:
http://biz.yahoo.com/prnews/061102/sfth033.html?.v=81
http://www.mobitv.com