Comcast, Cisco Invest In Move Networks
Internet Video Delivery Startup Raises $46 Million In Third-Round Funding
By Todd Spangler -- Multichannel News, 4/14/2008 4:38:00 AM MT
Move Networks, which provides Internet TV delivery services, announced a $46 million third round of funding led by Benchmark Capital with participation of Cisco Systems and Comcast Interactive Media.
Other investors participating in the round include Televisa and previous investors Steamboat Ventures and Hummer Winblad Venture Partners.
“The consumer experience is a central component to the future growth of broadband video," said Ian Blaine, senior vice president of content publishing for Comcast Interactive Media and CEO of Comcast’s thePlatform subsidiary. “Consumers expect online video to mirror their television or DVD experience today. Companies such as Move Networks will play a key role going forward."
Move Networks, based in American Fork, Utah, last month announced a deal with Microsoft, under which Move’s video-streaming technology is being into the next version of the Microsoft Silverlight multimedia platform.
Move Networks customers include ABC, the CW, Discovery Communications, ESPN and Fox.
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