Roo Group, the OTC-traded online video aggregator in which News Corp took a 10 percent stake early this year, has raised about $25 million in a common stock transaction. The participants are “accredited institutional investors, the majority of which are existing investors”, the company said. ROO will use the money to fund ongoing operations, to do some acquisitions, further develop its video platform.
The company powers the video on sites such as TheSun in UK, MTVU and TheStreet.com here in U.S. and others. More details here.