Digiboo, LLC, a Santa Monica, California-based provider of a service designed to allow consumers to rent or purchase DVD-quality movies by downloading from a touch-screen kiosk to a USB device, has received an undisclosed amount of funding (of several million dollars, according to a written statement) from Norby Corporation Inc.
Following the investment, Norby will own an equity stake in the company.
Digiboo intends to use the funds to rollout the kiosks in key airport locations nationwide. The company plans to install an estimated 7,000 movie download kiosks worldwide over the next three years.
Founded in 2008 by MGM Studios home entertainment executives including CEO Richard Cohen, Jeff Karbowiak, and Blake Thomas, Digiboo provides compact movie service kiosks, which allow customers to download movies in less than 30 seconds, according to the company). The movies can then be watched on any PC, TV, laptop, tablet or netbook.
Earlier this year, Digiboo signed an agreement with PFU Systems, Inc., the North American subsidiary of PFU Limited, a Fujitsu company, under which PFU became exclusive supplier of custom kiosks worldwide for the company. PFU has also made strategic cash investment in Digiboo, partnering with the company as it plans to grow internationally.
Initial funding was provided by Digital Revelations, the technology investment arm of Morgan Freeman’s and Lori McCreary’s Revelations Entertainment.
FinSMEs
17/08/2011