Live Broadcast Company, Mogulus Raises $10 Million

Posted Jul 28, 2008

Live broadcast company, Mogulus has raised funding from Gannett Co., Inc. (NYSE:GCI).  Gannett’s investment in Mogulus also extends the commercial agreement between the two companies to provide broadcasting services on all of Gannett’s properties. 

Several Gannett subsidiaries have successfully used Mogulus for live video coverage.  The Indianpolis Star (www.indystar.com) to provide live editorial coverage of an interview with Senator Barack Obama.  AZCentral used Mogulus to live broadcast the press conference for the announcement of hosting the 2012 Super Bowl.  And ArgusLeader.com used Mogulus to live broadcast an interview with Senator Hillary Clinton.

?Mogulus adds a new and exciting dimension to Gannett?s already broad-based multimedia journalism efforts. Our reporters and photographers in the field are equipped with video cameras, laptops and broadband wireless connections to enable timely and relevant news delivery to the Web. Now, with Mogulus, all our journalists ? including print and Web reporters ? can deliver live, multi-camera broadcasts of news events to our customers,? stated Craig A. Dubow, Chairman, President and CEO of Gannett.  ?Live internet broadcasting tools are essential in this new media age. We believe in the space and in the ability of Mogulus to deliver.?

Mogulus offers several tools for any television station or amateur videographer to get their footage online.  There are built-in multiple camera and editing tools on Mogoulus.  Anyone can create their own channel.  And there are embeddable Mogulus players that can be added to social networks and other websites.  Mogulus’ traffic has doubled every 60 days for the last 10 months.  Currently the company receives 200 million uniques per month.

?This investment from Gannett is a terrific partnership which will not only give us the financial resources to secure Mogulus as the leading live broadcasting service but also gives us our first major Mogulus Pro customer,? stated Max Haot, co-founder and CEO at Mogulus. ?Our immediate priority is now to accelerate our product development to launch Mogulus Pro, recruit senior executives in the areas of service sales and advertising sales and deploy the Mogulus Pro service deeper within Gannett properties and those of other customers.?

Although the round of funding was undisclosed, TechCrunch reports that this round of investment was $10 million.  This brings Mogulus’ total funding to roughly $13 million.

Related Links:
1. TechCrunch
2. Mogulus blog