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

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.


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Citation: TV-on-Internet service Aereo gets $34M in funding (2014, January 8) retrieved 1 December 2020 from https://phys.org/news/2014-01-tv-on-internet-aereo-34m-funding.html
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