|[April 16, 2012]
Virtual Cable Company Internet Broadcasting Corp. Closes Series A Round in Order to Roll out Disruptive Service
COLUMBIA, Md. --(Business Wire)--
Internet protocol television (IPTV (News - Alert)) pioneer Internet Broadcasting Corp.
(IBC) has closed its Series A equity financing. The round was led by
sophisticated Washington DC area angel investors and the company's
existing investor Silver Stone Capital came in as a co-investor.
This financing will help fund the roll out of Vibble TV, the company's
initial offering that focuses on the three million plus South Asians in
the United States. Vibble TV's offering already includes leading Indian
television content provider ZEE TV and 60 other channels. In addition,
Vibble TV offers to its subscribers over 500 Bollywood movies and the
entire library of Amar Chitra Katha animated Indian fables through video
on demand. The company is continuing to addcompelling content to its
lineup and plans on launching the service in May.
With the largest selection of South Asian channels in North America,
Vibble TV's audience can "watch whatever whenever and wherever™" live
television and video on demand with the ability to pause, fast-forward
or rewind. Capable of delivering content seamlessly to mobile devices,
tablets, computers or television, Vibble TV expects to quickly become
the IPTV alternative of choice in today's entertainment market for its
"We are excited to have the support of our new investors as we bring
television viewing to the 21st century," said Suresh
Kadagala, the CEO and founder of IBC. "Our goal is to create the world's
leading IPTV company and our investors share our vision and passion."
Vibble TV also plans to roll out service to other ethnic markets later
in the year.
About Internet Broadcasting Corp.
Internet Broadcasting Corp. enables consumers to "watch whatever
whenever and wherever®" disrupting the way consumers receive both linear
television programming and video on demand (VOD). By delivering video
content directly to subscribers' smartphones, tablets, computers and
televisions, IBC's IPTV offering allows consumers to replace their
existing cable and satellite providers with a service that provides
additional functionality at a lower price point.
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