Company News: Page (1) of 1 - 02/14/12 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook

Aereo Announces $20.5M Series A Financing Led by IAC; New Technology Platform Allows Consumers Access to Live TV Over the Internet

Barry Diller Joins Aereo's Board of Directors (February 14, 2012)

NEW YORK, NY -- (Marketwire) -- 02/14/12 -- Aereo (formerly Bamboom Labs), a new Internet based television solution for consumers, announced $20.5 million in Series A financing led by IAC (NASDAQ: IACI). Previous investors, including FirstMark Capital, First Round Capital, High Line Venture Partners, Highland Capital Partners and select individuals, participated in the round, bringing Aereo's total funding to approximately $25 million. IAC Chairman & Senior Executive, Barry Diller, has joined Aereo's Board of Directors.

Today, Aereo provides an easy to use, proprietary remote antenna and DVR that consumers can use to access network television on web-enabled devices such as smartphones and tablets, and through internet TV solutions such as AppleTV and Roku. Aereo's members will have access to all of the major networks including CBS, NBC, FOX, ABC, CW and PBS, as well as other local channels and will have the ability to store up to 40 hours of programming through their Remote DVR. No cords or cable required.

"Aereo is the first potentially transformative technology that has the chance to give people access to broadcast television delivered over the Internet to any device, large or small, they desire. No wires, no new boxes or remotes, portable everywhere there's an Internet connection in the world -- truly a revolutionary product," said Mr. Diller.

"Barry's vast experience and knowledge of the television industry and his exceptional expertise in building successful and transformative companies is invaluable to Aereo. We are thrilled to have him join our Board of Directors and thrilled about our strategic collaboration and mentorship," said Chet Kanojia, Founder and CEO of Aereo.


Prospective Aereo members must be New York City residents and may register at aereo.com. Beginning March 14, members will be entitled to a 30-day free trial and the membership fee is $12 per month. Aereo's technology offers a high quality, high definition television experience to the consumer and it includes the Internet portability that has become so essential to our lives. Aereo's sleek design and easy-to-use controls provide seamless navigation experience across devices. Aereo also integrates social network capabilities enabling users to share, chat and discuss shows in real-time with other Aereo members via Facebook and Twitter.

Membership is subject to availability. For more information, visit aereo.com; Twitter @aereotv; Facebook/Aereo; LinkedIn/Aereo.

Media Contacts:
Mike Schroeder
Launchsquad for Aereo
Aereo@launchsquad.com
212.564.3665

Ali Cox
Aereo
acox@aereo.com
917.882.4132


Copyright @ Marketwire

Page: 1


Related Keywords: television, live tv, iac, barry diller, apple tv, roku, aereo, Internet, Communications, Web, Smart Phone, Social Media, Marketwire, , Television, Internet Technology, Internet, Other,

HOT THREADS on DMN Forums
Content-type: text/html  Rss  Add to Google Reader or
Homepage    Add to My AOL  Add to Excite MIX  Subscribe in
NewsGator Online 
Real-Time - what users are saying - Right Now!

Our Privacy Policy --- @ Copyright, 2015 Digital Media Online, All Rights Reserved