Aereo Raises $38 Million In Series B
Aereo is a web TV service company that has raised $38 million in Series B funding. Aereo plans on rolling out to 22 more U.S. cities this year starting in the late spring. This round of funding was led internally by Barry Dillar’s IAC. Previous investors Highland Capital Partners, FirstMark Capital, and First Round Capital also participated in this round.
Aereo has raised a total of $63 million thus far. Aereo grabs TV signals over the air and then routes them through the Internet. This way consumers can watch broadcast TV through devices like computers, iPads, and Roku boxes. Aereo is not paying to access the programmer’s broadcasts though. They are currently fighting that battle in court. Aereo only lets users watch TVs that are “in-market.” For example if you are living in New York City, then you will not be able to see a Detroit Pistons game.
“Free over the air television has been core to communications in the US since its beginning. Aereo is a superb technology allowing consumers to use the modern tools of the Internet to receive this, and other programming, with a great user interface and navigation that is easy and inexpensive. I continue to be excited by the possibilities and fully support its expansion,” stated Diller.
[Source: AllThingsD]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry