KIT Digital Raises Another $15 Million: Says It’s The Last One
By Joseph Weisenthal - Fri 09 May 2008 10:10 AM PST
Internet video company KIT Digital (fka Roo Group) has raised another $15 million from accredited institutional investors, including, but not limited to major shareholder KIT Capital—which controls the company. The investors bought in at a price of $.20 per KIT Digital share. Funding will go towards financing some of its recent deals, including interactive ad agency Sputnik and Swedish mobile video firm Kamera. This isn’t the first time KIT has raised cash, but it says it will be the last time it goes to the well, as it expects the funding to last through profitability. Release.
Posted in: Media, TV, IPTV, VC+M&A, Venture Capital
Tags: kit capital, kit digital
