Video-sharing Service Motionbox Raises $4.2 Million in First Round
New York - Video-sharing service Motionbox announced on Wednesday that it has raised $4.2 million in its first round of venture capital financing. Investors participating in the round included Canaan Partners, SAS Investors and Japan's Itochu Corporation. New York-based Motionbox says its service makes it easier for less tech-savvy users to upload and share their personal videos online. The funds will be used for further product development and marketing efforts.
http://biz.yahoo.com/prnews/060906/nyw100.html?.v=70
http://www.motionbox.com
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