Akimbo with investment

Filed in archive Venture Capital on July 15, 2004

Akimbo a company that streams independent media through the net has raised US$ 12 million. Akimbo had been my obvious favorite at the Demo 2004 reports. Seems someone was faster than I :)

"Startup Akimbo said Monday it has raised $12 million in series B funding for its video on demand service, which it said will be available this summer. The lead investor was venture capital firm Kleiner Perkins Caufield & Byers. Others included Draper fisher Jurvetson, Sprout Group and Zone Ventures. The company also said William R. Hearst III, a partner at Kleiner, joined the company as its chairman.

Akimbo's service allows subscribers to download video content from the Internet using its player. The player will cost $229.99 and the monthly service fee will be $9.99."