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Summary:

The last time mobile video startup MobiTV said they raised $70 million in a third round of funding, we used them as an example of the return of the big VC money. Now the Emeryville-based company is announcing today that it has raised even more money […]

The last time mobile video startup MobiTV said they raised $70 million in a third round of funding, we used them as an example of the return of the big VC money. Now the Emeryville-based company is announcing today that it has raised even more money as part of its Series C: $30 million with additional investors Hearst Corporation and Adobe Systems. The company says their total Series C funding comes to over $100 million bringing the company’s total to $125 million raised since the company started in 1999 — now that is a lot of money.

What are they going to do with it? The company was a little vague on the details and cited the usual laundry list — customer acquisition, international expansion, etc. — but the additions of Hearst and Adobe are interesting moves for the company. Hearst has various media outlets, including television, radio, Internet, magazines and newspapers, so help with content deals could be a nice addition to an investment. Adobe on the other hand has been looking to invest in companies that use Adobe platforms, especially the new Apollo, as Liz wrote recently. MobiTV’s AT&T Broadband TV service uses Flash.

MobiTV CEO Phillip Alvelda says that among other assets the two new investors are “neutral” companies, meaning not many other content, hardware or media partners would take offense to the investment. MobiTV has a lot of deals under its over six-year life span, so it’s probably a good idea to tread carefully. Now the company just needs to get more subscribers; its last released numbers were just at one million.

  1. Can I get $10?

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  2. I smell a Brience.

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  3. Mediaflow is a big threat. I have tested mediaflow and it is the real deal. Mobitv acquires all its subs via a “1st month free” breakage model. The service doesn’t really work and their churn is monstrous. I wish Phil and the guys luck, they invented the space and deserve a lot of credit, but the qualcomm (and dvb-h in eu) threat is serious.

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  4. i’s all bogus, along with Games on handsets in the US which is a $0 market and has never taken off.

    Mebbe people who yhang out of off track betting might like it.

    Jim Forbes

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  5. Is this the Vonage of mobile TV?

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  6. banker coldwell parker realty…

    banker coldwell parker realty company…

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  7. [...] of Emeryville, CA has recently raised another $30 million as part of its Series C, according to GigaOM. On July 12, 2006, MobiTV had also raised $70 million from other investors led by Oak Investment [...]

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  8. [...] of Emeryville, CA has recently raised another $30 million as part of its Series C, according to GigaOM. On July 12, 2006, MobiTV had also raised $70 million from other investors led by Oak Investment [...]

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  9. [...] then the confusion only helps MobiTV. At least that explains why the California-based company has attracted $125 million in venture funding. Share/E-mail | Sphere | Print | Topic: Mobile, Featured | Tags: MediaFLO, MobiTV, Modeo, [...]

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  10. [...] company has raised a whopping $130 million in venture financing over the years, and has been an early evangelist for [...]

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