Live/Mobile Streaming Firm Kyte Raises Even More Money
Kyte, the much-hyped but still-to-prove-itself mobile and online live streaming firm, keeps on raising money…rather keeps on adding it to the second round, which now stands at about $21.1 million, in addition to the first round of $2.2 million. The San Francisco-based company now added the money from Steamboat Ventures and Swedish mobile operator TeliaSonera. This adds to its previous investor, also mobile heavy, with Nokia, Telefonica (NYSE: TEF), Swisscom and Holtzbrinck Ventures, the German media VC firm.
SEE ALSO: Kyte’s Second Round: $15 Million Led By Telefonica
In addition to its web platform, the company has put an emphasis on broadcasting mobile video, hence the backing from the operators and Nokia (NYSE: NOK). But, with tons of competition in the space and little to differentiate itself on the technology/service side, I hope it keeps its investors close. I would doubt Nokia (which also works with competitor Qik) or any of its investor-operators would only work with one streaming/video platform.
Also, in a shift, it is emphasizing its media platform, working with bigger media companies, rather than trying to focus on user-gen video. VentureBeat: “Graf says his long-term vision focuses more on partnerships with other companies than on the user-generated content at Kyte.tv. Kyte is moving completely away from UGC, but more of it will be tied into a specific brand or partner, Graf says, such as fan videos for 50 Cent.”
Posted In: Entertainment, Money, M&A & Venture Capital, Venture Capital, Social Media, Video, kyte, steamboat ventures, teliasonera
Last.fm Songs
Social Standing
Which media brands are getting a lift from Tweeters and bloggers right now -- and which are getting panned?
Show Me: