Nokia invests in kyte.tv
California-based kyte.tv announced that it has received investment from Nokia Growth Partners, a global private equity and venture capital management arm of Nokia. The investment will help to further extend the distribution of kyte.tv’s award-winning service that enables users to easily create interactive TV channels online and on the go, which are instantly broadcast to any website, blog, social network, and mobile phone.
“This investment is of great strategic importance to kyte.tv. We are proud to have the combination of a media company, a service provider, and the world’s number one device manufacturer investing in our company. This provides us with key access to distribution across Europe and beyond,” said Daniel Graf, co-founder and CEO of kyte.tv. “Through their mobile devices, Nokia provides people with a wide range of experiences in mobile video, television, music, and imaging. This partnership allows kyte.tv to enrich this experience even more.”
“An investment in kyte.tv is a logical step in driving the transformation and growth of the converging Internet and communications industries. kyte.tv is a great manifestation of this vision to bring together social networking, user-generated content, and mobile services,” said Rob Trice of Nokia Growth Partners. “We are pleased to be working with such an innovative company and look forward to helping kyte.tv grow its audience globally.”