Aereo Raises $34M
NEW YORK -- Aereo, Inc., today announced that it has closed a $34 million Series C round of financing. The new round of financing will support Aereo’s rapid nationwide expansion and increased investments in hiring and technology. IAC was joined by iconic media investor Gordon Crawford and Himalaya Capital Management, as well as existing investors Highland Capital Partners, FirstMark Capital and others for this additional round of funding. Crawford, a media and entertainment industry veteran, is one of the industry’s most influential and successful investors, having worked at Capital Research and Management for 41 years. Himalaya Capital Management is led by global investor and human rights activist Li Lu.
Today’s announcement will be made by Aereo’s CEO and Founder, Chet Kanojia, at the Citi Global Internet, Media & Telecommunications Conference in Las Vegas. To listen to a live stream of the event, visit: http://bit.ly/1hUwNi4. The audio stream will begin at 9:45 a.m. (PST).
“Aereo experienced tremendous growth in 2013 and we expect 2014 to be another blockbuster year,” said Aereo CEO and Founder Chet Kanojia. “Last year at this time, Aereo was launched in only New York City. Today, Aereo is available in 10 markets and will grow to 15 by the end of the quarter. In 2013, we also launched our first native app for Android, made improvements to enhance the user experience and more than doubled our employee headcount. Consumers are craving choice and options and as a result, we continue to see explosive growth across all our markets."