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Jivox closes $10.7 million Series A financing
Bombay News.Net
Monday 16th June, 2008 (IANS)
California headquartered Jivox, an online video advertising platform, Monday reported here it has closed a $10.7 million Series A round of financing.
The Series A round was led by Opus Capital and an India-focussed venture fund, Helion Venture Partners, along with Jivox's existing investors.
A spokesperson of Jivox said that the funds will be used to continue the development of the online video advertising platform to enable smaller and local businesses to use it.
Launched in March 2008, Jivox has seen a quantum jump in popularity among sectors like travel sites, financial and real estate services, transportation companies and restaurants.
At present Jivox Video Network reaches over 40 million viewers and the market continues to expand, the company claimed, 'as it provides a very cheap advertisement platform especially to the small and local businesses'.
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