Voddler receives SEK 40m cash injection
By Julian Clover
Published: September 7, 2010 10.57 Europe/London
Swedish video Voddler has completed a private share placement that has brought the company SEK 40 million (€4.29m) in new capital. In addition to private investors, Finnish telecom group Elisa also contributed to the issue, and plans to launch Voddler in the Finnish market.
“Video and film are strategically important to us, both on current and future markets. It was self-evident to invest in and start cooperation with Voddler, the leading video-on-demand service on the market, said Vesa-Pekka Nikula, vice president, business development at Elisa
Voddler says it will continue to develop its technical platform and is confident of achieving its goal of being profitable in Scandinavia by the first half of 2011.
Some 2,500 titles are available in the Voddler library, 80% of which are available free, financed by pre-roll advertising. The platform has 720,000 registered users and is freely available in Sweden and Norway, and by invitation in Denmark and Finland.
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