TV-on-Internet service Aereo gets $34M in funding

Jan 08, 2014

Aereo, a Barry Diller-backed startup that provides broadcast television channels over the Internet for a monthly fee, says it has secured $34 million in additional funding from outside investors.

The money will help Aereo expand beyond the 10 metropolitan areas it currently serves. It will also allow Aereo to develop apps for additional devices, such as Internet-connected TVs and game consoles, while battling copyright-infringement lawsuits filed by broadcasters.

The additional funding was announced on the sidelines of the International CES gadget show in Las Vegas.

In an interview, CEO Chet Kanojia says the two new investors will be able to offer Aereo advice and contacts: Gordon Crawford is a veteran media investor, while investment firm Himalaya Capital offers international experience as Aereo explores markets beyond the U.S.

Explore further: TV-over-Internet service Aereo continues expansion

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Recommended for you

India's Flipkart raises $1 bn to tackle Amazon

1 hour ago

India's top e-commerce company Flipkart said Tuesday it had raised $1 billion (60 billion rupees) in funds as it battles US giant Amazon for supremacy in the hyper-competitive local market.

Pfizer's 2Q profit sinks 79 pct but tops forecasts

4 hours ago

(AP)—Pfizer's second-quarter earnings plunged 79 percent from last year, when the world's second-largest drugmaker booked a business spinoff gain of more than $10 billion. The latest results still edged ...

Aetna 2Q profit rises 2.4 percent

4 hours ago

Aetna's second-quarter profit climbed more than 2 percent, as gains from an acquisition helped the health insurer beat analyst expectations and raise its 2014 earnings forecast again.

Merck 2Q profit more than doubles

4 hours ago

A big one-time gain and a tax benefit helped drugmaker Merck & Co. more than double its second-quarter profit, raise the lower end of its profit forecast and easily top analysts' expectations.

User comments : 0