Another Milestone for JadooTV, Secures Backing from Intel Capital
San Francisco: JadooTV announced today that it has gained backing in the form of a major investment from Intel Capital, Intel's global investment and M&A organization.
JadooTV is the leading cloud-based Over The Top (OTT) platform offering Live & On-Demand content to South Asian, Afghani, and Iranian diaspora worldwide. JadooTV licenses content from leading multicultural content owners and offers it to consumers via its proprietary set-top box, tablet and multi-platform apps. The JadooTV service has gained immense popularity among expatriate viewers due to its economical cost, ease of use, and hassle-free connectivity via the Internet, offering viewers an abundance of news and entertainment content from their homelands.
“JadooTV has been a tremendous hit amongst multicultural consumers and the only challenge for us has been the ability to scale to meet the explosive demand,” said JadooTV CEO Sajid Sohail in a statement today. “This round of funding will enable us to improve our product offering, meet increased product demand, and license a diversity of content benefiting thousands of JadooTV consumers.”
The JadooTV platform has also become popular amongst new and emerging broadcasters allowing them to reach globally distributed viewers in a cost effective manner. Broadcasters can stream their channels at source via JadooTV either from their native satellite-delivered beam, or from streams they deliver on the Internet. Broadcasters save thousands of dollars in costly signal backhaul charges by opting for the JadooTV platform, and can pass these savings to consumers.
About Intel Capital
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,339 companies in 55 countries. In that timeframe, 206 portfolio companies have gone public on various exchanges around the world and 344 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.
JadooTV is a consumer technology and services company based in Silicon Valley, committed to delivering Live and On-Demand content to viewers via its proprietary Internet based devices. JadooTV is the leading distributor of Internet based South Asian television content, bringing Television, Movies, and Music to diaspora from India, Pakistan, Bangladesh, Sri Lanka, Nepal, Afghanistan, and Iran.
For more information on JadooTV visit: www.jadootv.com