IP TV Firm Akimbo Gets $12 Million From Kleiner Perkins, Others

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Akimbo, a new LA-based IP TV service which I’ve covered in some detail on this site, has raised $12 million from a group of investors lead by Kleiner Perkins Caufield & Byers.

Akimbo’s video content is designed to be viewed on a TV, though users will need a broadband connection, a home network and a set-top box–priced at $230–with a heavy-duty hard drive to display the service.

Akimbo plans this summer to launch a monthly service, priced at $9.95 a month, that includes a wide array of specialist video.

Hollywood Reporter: Akimbo, founded two years ago by Steve Shannon, one of the original executives at ReplayTV, previously raised $4.25 million from Draper Fisher Jurvetson, Sprout Group and Zone Ventures, venture capital firms that also participated in the latest financing round.

Related:

Akimbo Launches IP TV Service in U.S

A Profile of Akimbo’s IP-TV Service

Ripe Time For RipeTV?

TimeshifTV Will Speak In Tongues

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