MobiTV Secures More Financing

Mobile entertainment provider MobiTV announced it has received $5 million in equipment financing from private investment firm Leader Ventures, MediaPost reports.

The five-year-old service now claims it has more than 3 million subscribers, each one paying $9.99 per month for access to dozens of video channels on compatible cell phones.

A few weeks ago, MobiTV announced Optimized Delivery Server, a new back-end technology that improves channel switching such that it takes less than one second.

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