San Francisco - HandHeld Entertainment, a maker of portable media players, announced on Thursday that it has raised $3.83 million in a private placement of its shares.

San Francisco-based HandHeld's ZVUE digital media players are sold at Wal-Mart, as well as online.

"Since mid-November, we have acquired three websites that feature user-generated and user-submitted videos and other forms of media, and we plan to acquire more," said HandHeld president and CEO Jeff Oscodar. "These acquisitions have created a network of Web properties that attracted more than 5 million unique visitors in December."

The company will use the funds to expand its user-generated content assets, as well as to provide general working capital.

Related Links:
http://biz.yahoo.com/bw/070118/20070118005274.html?.v=1
http://www.hheld.com
http://www.zvue.com