MeeVee Closes $6.5 Million Funding Round Led by Labrador Ventures: Financial News
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MeeVee Closes $6.5 Million Funding Round Led by Labrador Ventures
Monday February 27, 8:27 am ET
Proceeds to fuel delivery of enhanced functionality for MeeVee‘s personalized TV and video search and discovery service
BURLINGAME, Calif.--(BUSINESS WIRE)--Feb. 27, 2006--MeeVee, the premier developer of personalized video entertainment search and discovery experiences for consumers on the Internet, today announced the closing of a $6.5 million Series B round of funding. Labrador Ventures led the round with additional investments from WaldenVC, Edmond de Rothschild Venture Capital Management and DEFTA Partners. The funding will be used to support engineering, marketing and business development efforts to address the soaring demand for MeeVee‘s syndicated, and direct-to-consumer, personalized TV and video search service.
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"Personalized entertainment search is one of the most exciting new segments on the Internet today," said Larry Kubal, Managing Partner, Labrador Ventures. "MeeVee exemplifies a tremendous combination of superior technology, market traction, timing and vision that provides an outstanding investment opportunity for Labrador. We look forward to working with MeeVee‘s leadership to contribute to their continual success in this burgeoning market."
"Consumers are now faced with countless video channels and more and more places to tune in, including the Internet and mobile devices," said Larry Marcus, a Managing Director at WaldenVC. "MeeVee is poised to deliver a renewed love affair with TV and help audiences everywhere to discover real value in all the new content choices available."
Developed to help consumers search for, find, manage and share programming content of interest, MeeVee‘s advanced TV and video search and discovery experience works across multiple platforms. The company also offers a syndication program that enables third-party Web sites such as newspaper portals, cable operators and other content providers to offer the power of MeeVee to their site visitors. In addition, MeeVee was recently awarded two technology patents that enable the company to provide the most accurate and relevant programming search results in the marketplace today. (See related patents release dated February 6, 2006).
"MeeVee‘s major newspaper and on-line syndication partners have validated the Company‘s unique approach to television and video search," said Ian Aaron, President and CEO of WAAT Media and Chairman of MeeVee‘s board of directors. "Our funding will allow us to accelerate our subscriber functionality into mobile and DVR‘s while providing even more value for our content, advertising and syndication partners."
"We look forward to the new search experiences we can offer consumers through this significant commitment from our investment partners," said Michael Raneri, President of MeeVee. "The additional capital enables us to take advantage of our patented technical achievements and, almost immediately, will allow us to deliver even more functionality that will further distinguish MeeVee as a leader in personalized TV and video search."
In addition to Michael Raneri, MeeVee board members include; Chairman, Ian Aaron, President/CEO of WAAT Media and former President of the TV Guide Television Group; Samuel Katz, President at Edmond de Rothschild Venture Capital Management Ltd; Larry Marcus, Managing Director, WaldenVC; and Larry Kubal, Managing Partner of Labrador Ventures.
About MeeVee
MeeVee Inc., is the premier developer of personalized video entertainment search and discovery experiences for consumers on the Internet. MeeVee offers television viewers and video content enthusiasts a unique online community that provides a smarter, easier way to navigate the growing universe of television programming and video content. MeeVee‘s patented technology provides up-to-the-minute programming search capabilities, customized TV planning and personal recommendation tools, to better track and monitor programming of interest. MeeVee also syndicates and licenses its television search and personalization service to leading newspaper portals, content providers and cable operators. For more details, please visitwww.meevee.com.
Contact:PerkettPR for MeeVeeHeather Mosley, 415-384-0113E:meevee@perkettpr.comSource: MeeVee Inc.
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Monday February 27, 8:27 am ET
Proceeds to fuel delivery of enhanced functionality for MeeVee‘s personalized TV and video search and discovery service
BURLINGAME, Calif.--(BUSINESS WIRE)--Feb. 27, 2006--MeeVee, the premier developer of personalized video entertainment search and discovery experiences for consumers on the Internet, today announced the closing of a $6.5 million Series B round of funding. Labrador Ventures led the round with additional investments from WaldenVC, Edmond de Rothschild Venture Capital Management and DEFTA Partners. The funding will be used to support engineering, marketing and business development efforts to address the soaring demand for MeeVee‘s syndicated, and direct-to-consumer, personalized TV and video search service.
ADVERTISEMENT
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"Personalized entertainment search is one of the most exciting new segments on the Internet today," said Larry Kubal, Managing Partner, Labrador Ventures. "MeeVee exemplifies a tremendous combination of superior technology, market traction, timing and vision that provides an outstanding investment opportunity for Labrador. We look forward to working with MeeVee‘s leadership to contribute to their continual success in this burgeoning market."
"Consumers are now faced with countless video channels and more and more places to tune in, including the Internet and mobile devices," said Larry Marcus, a Managing Director at WaldenVC. "MeeVee is poised to deliver a renewed love affair with TV and help audiences everywhere to discover real value in all the new content choices available."
Developed to help consumers search for, find, manage and share programming content of interest, MeeVee‘s advanced TV and video search and discovery experience works across multiple platforms. The company also offers a syndication program that enables third-party Web sites such as newspaper portals, cable operators and other content providers to offer the power of MeeVee to their site visitors. In addition, MeeVee was recently awarded two technology patents that enable the company to provide the most accurate and relevant programming search results in the marketplace today. (See related patents release dated February 6, 2006).
"MeeVee‘s major newspaper and on-line syndication partners have validated the Company‘s unique approach to television and video search," said Ian Aaron, President and CEO of WAAT Media and Chairman of MeeVee‘s board of directors. "Our funding will allow us to accelerate our subscriber functionality into mobile and DVR‘s while providing even more value for our content, advertising and syndication partners."
"We look forward to the new search experiences we can offer consumers through this significant commitment from our investment partners," said Michael Raneri, President of MeeVee. "The additional capital enables us to take advantage of our patented technical achievements and, almost immediately, will allow us to deliver even more functionality that will further distinguish MeeVee as a leader in personalized TV and video search."
In addition to Michael Raneri, MeeVee board members include; Chairman, Ian Aaron, President/CEO of WAAT Media and former President of the TV Guide Television Group; Samuel Katz, President at Edmond de Rothschild Venture Capital Management Ltd; Larry Marcus, Managing Director, WaldenVC; and Larry Kubal, Managing Partner of Labrador Ventures.
About MeeVee
MeeVee Inc., is the premier developer of personalized video entertainment search and discovery experiences for consumers on the Internet. MeeVee offers television viewers and video content enthusiasts a unique online community that provides a smarter, easier way to navigate the growing universe of television programming and video content. MeeVee‘s patented technology provides up-to-the-minute programming search capabilities, customized TV planning and personal recommendation tools, to better track and monitor programming of interest. MeeVee also syndicates and licenses its television search and personalization service to leading newspaper portals, content providers and cable operators. For more details, please visitwww.meevee.com.
Contact:PerkettPR for MeeVeeHeather Mosley, 415-384-0113E:meevee@perkettpr.comSource: MeeVee Inc.
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