Kyte today announced it has closed its Series B funding, raising a
total of USD 21.1 million, after securing additional investments from
Steamboat Ventures, a venture capital firm affiliated with The Walt
Disney Company, and Intellect Capital Ventures, a venture fund
initiative of TeliaSonera managed by Intellect Partners, also
participating. As previously announced, several world leaders in
wireless also are participating in this round, including Telefonica,
Nokia Growth Partners, Swisscom and DoCoMo Capital, Inc., as well as
Draper Fisher Jurvetson and Holtzbrinck Ventures, the investment arm
of one of Europe´s largest media conglomerates.
With these strategic investments and partner relationships, Kyte
is building a social communications ecosystem on a global scale with
massive viral distribution and monetization potential. In addition, by
working closely with artists and mobile carriers, Kyte is furthering
its reach and expansion into media and entertainment. Kyte is
currently working with artists from all four major music labels,
including 50 Cent and Grammy-nominated Raheem DeVaughn. These artists
use the Kyte Platform to broadcast mobile video in real-time to
multiple online and mobile destinations. Fans interact with the
content on the web through the embedded Kyte Player "super widget," or
from their mobile phones through the iPhone-optimized Kyte Mobile Web.
Artists such as 50 Cent are experiencing millions of show views and
massive viral content distribution across thousands of websites.
"Kyte is proud to be working with recognized leaders in the
wireless and entertainment industries to bring premium media and
entertainment content to the Kyte platform while increasing global
distribution," said Daniel Graf, co-founder and CEO of Kyte.
"Steamboat´s affiliation with The Walt Disney Company and Intellect´s
relationship with TeliaSonera represents significant additions to the
Kyte ecosystem. Coupled with our existing strategic partnerships
including Telefonica, Nokia, Holtzbrinck and NTT DoCoMo, we are
certainly well-positioned to succeed by having major content providers
and distributors on board."
"Kyte´s technology is transforming online media beyond the
delivery of digital content, providing fans and users with a powerful
social communications channel," said Scott Hilleboe of Steamboat
Ventures. "We believe there are tremendous opportunities for major
content and media companies, including The Walt Disney Company, to use
Kyte´s platform to increase distribution and strengthen brand loyalty.
We look forward to working with their experienced management team to
expand the Company´s leading market position."
"Kyte is a compelling opportunity because it has created an
innovative social communications platform that works seamlessly across
mobile devices and online destinations," said Greg Franklin of
Intellect Partners. "We are enthusiastic to partner with Kyte and help
the company expand globally."
About Kyte
Kyte provides anyone - from consumers to major recording artists -
with an easy way to instantly broadcast mobile and online video to
multiple destinations, including social networks, blogs and other
mobile phones. For content creators, publishers and mobile operators,
Kyte provides new revenue opportunities and viral distribution
channels through an engaging social communications experience. The
company is headquartered in San Francisco, California, with a European
office in Zurich, Switzerland. Investors include Draper Fisher
Jurvetson, Telefonica, Nokia Growth Partners, Steamboat Ventures,
Intellect Capital Ventures, DoCoMo Capital, Holtzbrinck Ventures,
Swisscom and others. For more information, please visit:
http://www.kyte.com.
About Steamboat Ventures
With offices in Los Angeles, Shanghai and Hong Kong, Steamboat
Ventures is a global venture capital fund that invests in digital
media, consumer and technology companies in the U.S. and Asia.
Steamboat Ventures pursues a distinctive investment strategy,
cultivating investment opportunities that are simultaneously
financially promising and also possess the potential to have
significant strategic interest to The Walt Disney Company. Founded in
2000, Steamboat Ventures has invested in a range of leading digital
media and consumer technology companies, including: Fastclick
(acquired by VCLK), Iridigm Display Corporation (acquired by QCOM),
Pure Digital Technologies, Quigo Technologies (acquired by TWX), Move
Networks, 56.com, and UUSee. For more information, please visit
www.steamboatvc.com.
About Intellect Capital Ventures
Located in Palo Alto, California and managed by Intellect
Partners, Intellect Capital Ventures (ICV) is an investment vehicle of
TeliaSonera that funds promising and disruptive innovation relevant to
TeliaSonera´s growth initiatives. Apart from Kyte, ICV has invested in
Brilliant Telecommunications and was an early investor in Good
Technology (acquired by MOT).
