Virtual Cable Company Internet Broadcasting Corp. Closes Series A Round in Order to Roll out Disruptive Service
COLUMBIA, Md.--Internet protocol television (IPTV) 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 add compelling 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 target market.
"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.