Update: Akimbo Actually Raised $4 Million
Contrary to earlier reports (including our own), former set-top-box-maker-turned-white-label-video-service Akimbo raised just $4 million in its latest round of financing. According to Thomas Frank, Akimbo CEO, the initial $8 million was a typo that got perpetuated. All investors except for Cisco returned for this latest round, including AT&T, Blueprint Ventures, Draper Fisher Jurvetson, Kleiner Perkins Caufield & Byers, Sprout Group and Zone Ventures. Frank said that in total, Akimbo has raised $47 million.
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[...] new management team, $8 million in fresh funding. [Update: Apparently, the company only raised $4M; the original announcement of $8M was a typo, the company said] and refashioned its technology to help video publishers deliver their own video [...]
Akimbo, online video delivery company, throws in towel for good » VentureBeat on May 23rd, 2008 at 9:33 am - Permalink
[...] as a white-label video provider, the company has gone through $47 million since 1999, raising its latest round of $4 million just a few months [...]
Developing: Akimbo Closed for Good? « NewTeeVee on May 23rd, 2008 at 9:39 am - Permalink