Latino Web Entertainment Portal Mio.TV Gets $2.5 Million

Authored by Mark Hefflinger on November 19, 2007 - 8:12am.

New York - Mio.TV, a bilingual, Web-based Latin entertainment network, has raised $2.5 million in initial funding, from investors including Talbert Navia and Carlos Cone, BusinessWeek reports.

The company hopes to raise about $10 million before the end of the year.

New York-based Mio.TV was co-founded by Manuel Garcia-Duran and Moses Frenck, the former chairman of Telefonica Media and managing editor of Adweek's Marketing y Medios, respectively.

The company plans to produce about 80% of its own content, and expects to launch a private beta test of its Web-based entertainment portal later this week.

The site plans a public launch in early March.

Related Links:
http://snipurl.com/1tw3b (BusinessWeek)

http://www.mio.tv

Published in DMW Daily, November 19, 2007

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Comments

MIO.TV will be a powerful company

Submitted by Tomas (not verified) on January 20, 2009 - 9:41am.

I've been following this company and if they can figure out to sell every piece of what they are doing they could change the business model of the entire industry. We'll have to see if they can monetize where others have failed. I don't know if MIO.TV knows what a can of worms they have opened here.