VOD service boxes up VC money
Akimbo Services, which is readying what it calls "the nation's largest video-on-demand service for television," has raised $12 million in a financing round led by Kleiner Perkins Caufield & Byers. The company will release a stand-alone box this summer that uses Internet technology to deliver content from 50 partners, including Cinema Now and iFilm, to TV screens on a subscription basis. Akimbo, founded two years ago by Steve Shannon, one of the original executives at ReplayTV, previously raised $4.25 million from Draper Fisher Jurvetson, Sprout Group and Zone Ventures, venture capital firms that also participated in the latest financing round.
- 7/11/2004
- The Hollywood Reporter - Movie News
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