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May 16, 2006
Musicbrigade: MTV For The Broadband Crowd
Swedish VC fund Provider Venture Partners has invested about €3.2M in Musicbrigade, a developer of a platform for downloading and distributing music, videos, and audio via the web and mobile devices, buying itself a 28 percent stake in the seven year old venture.
Musicbrigade started out as a music video distributor, an online version of MTV (at least the way it was in the eighties when it was mainly broadcasting music videos). It has 40 different music video channels.
But the Swedish company is now aiming to become a "onestop-shop for all digital music online", including audio and video.
Customers today are mainly in Northern Europe: broadband operators(Bredbandsbolaget, Telenor, Chello, Telewest/NTL, a o), portals (Microsoft Windows Media, On-line Spotlight, ao), mobile operators (3, Telenor/Vodafone, a o) as well as the hardware manufacturer Fujitsu Siemens Computers.
The plan is to use the capital to "substantially increase the presence on the European market".
Read - Provider invests in Musicbrigade (press release)
Posted on May 16, 2006 03:17 PM | Posted to Media | Online services | Venture Capital | Permalink
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