Wideorbit business deal raised $14.5 million. Earlier, twice the company had raised capital of $3.5 million and $8 million respectively. The capital raised this time would be used for improving billing a traffic related solutions by the use of softwares. The write up below reveals the various aspects of the company’s services enhancement efforts.
Wideorbit was established in the year 1999. The company operates from England, London, San Francisco, Denver and Seattle. The support provider for the sale of online advertisements, Wideorbit, has raised $14.5 million in the third round of capital raising. Wideorbit business deal in the first round raised $3.5 million and in the second round, the capital raised was $8 million.
Wideorbit is reported to have as much as $10 billion under management. The management of $10 billion is distributed among radio stations, as many as 900 television channels, cell devices or mobiles, networks for digital display, cable networks and theater halls.
Venture Capital Fund Providers:
In the third round of Wideorbit business deal, the company received investment from three venture capital institutions of repute. They are:
Usage of capital raised in the Wideorbit business deal:
The fund raised from the Wideorbit business deal would help the company in creating an effective as well as an efficient system for stock taking of various inventories pertaining to the advertisement world transmitted through different media, which include movie halls, television and radio. In general, the prevailing “inventory system” does not meet all the requirements.
Wideorbit is mainly involved in the advertisement world and takes care of matters related to sales, billing as well as traffic and offers software remedies for the same. The main and most successful product of Wideorbit is the WO Traffic, which manages $10 billion in revenue for various advertisement media as discussed above in the article. In fact, Wideorbit puts in all efforts to better its efficiency in various operational areas thereby yielding optimum revenues from the same.
Khosla Ventures, headed by founder Vinod Khosla was set up in the year 2004 has been conferred number 1 title by Forbes.
Greycroft Partners was formed in the year 2001 and is regarded as one of the best firms for offering private equity.
Hearst Ventures is also another finance provider of repute.