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Aereo raises $20.5M in funding
Aereo (formerly Bamboom Labs), a new Internet based television solution for consumers, announced $20.5 million in Series A financing led by IAC (Nasdaq: IACI). Previous investors, including FirstMark Capital, First Round Capital, High Line Venture Partners, Highland Capital Partners and select individuals, participated in the round, bringing Aereo’s total funding to approximately $25 million. IAC Chairman & Senior Executive, Barry Diller, has joined Aereo’s Board of Directors.
Today, Aereo provides an easy to use, proprietary remote antenna and DVR that consumers can use to access network television on web-enabled devices such as smartphones and tablets, and through internet TV solutions such as AppleTV and Roku. Aereo’s members will have access to all of the major networks including CBS, NBC, FOX, ABC, CW and PBS, as well as other local channels and will have the ability to store up to 40 hours of programming through their Remote DVR. No cords or cable required.
Aereo has offices in NYC & Boston.