Video Streaming Firm Move Networks Raises Big $46 Million Third Round
CBS News | April 14, 2008
Red hot Move Networks, the heavily-backed provider of high quality online video streaming, has raised a huge $46 million third round led by Benchmark Capital, as well as Cisco (NSDQ: CSCO), Comcast (NSDQ: CMCSA) Interactive Media (a division of Comcast Corp.), and Televisa, making its entry into the crazy-money territory. Previous backers Steamboat Ventures (Disney) and Hummer Winblad Venture Partners also participated. The company has previously raised about $45 million over two rounds, bringing its total haul to around $91 million. The American Fork, Utah-based company touts a higher level of quality than other video providers, including HD, and it claims to be able to eliminate buffering.
