Russian online media company raises an additional $5M in funding:
Moscow Venture Fund, a $30 million venture capital fund that is managed by Allianz Rosno Asset Management, has invested more than $5 million for an additional 24 percent stake in Tvigle (Tvigo Entertainment), a producer and distributor of content for Internet TV and mobile entertainment, reported business newspaper Kommersant. The consulting company ADJ Consulting acted as financial adviser to Tvigo.
Read more. With estimates for user generated content driven social networks being scaled back fast and furious, it’s a matter of time before you see more and money going into premium video… it’s called a flight to quality. Interesting to see this happening in Russia though, where the country has faced tremendous economic pressures to falling oil and gas prices. But, then again, it makes even more sense to see some diversification away from traditional sectors into new media, what with Russia being the fastest growing Web market in Europe.
Digg this Blog
Share on Facebook
WatchMojo on Twitter
WatchMojo on YouTube
Add to Favorites
WatchMojo Newsletter
PLAY
