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Nokia Growth Partners Invests in Kyte.TV

Posted on: Tuesday, 12 June 2007, 06:50 CDT

SAN FRANCISCO, June 12 /PRNewswire/ -- Today, kyte.tv announced that it has received investment from Nokia Growth Partners, a global private equity and venture capital management arm of Nokia , the world leader in mobility. The investment will help to further extend the distribution of kyte.tv's award-winning service that enables users to easily create interactive TV channels online and on the go, which are instantly broadcast to any website, blog, social network, and mobile phone.

The investment from Nokia Growth Partners follows kyte.tv's recent announcement that it had received an investment from a leading service provider and a media company, Swisscom and Holtzbrinck Ventures, that will provide the company with key distribution channels across Europe.

"This investment is of great strategic importance to kyte.tv. We are proud to have the combination of a media company, a service provider, and the world's number one device manufacturer investing in our company. This provides us with key access to distribution across Europe and beyond," said Daniel Graf, co-founder and CEO of kyte.tv. "Through their mobile devices, Nokia provides people with a wide range of experiences in mobile video, television, music, and imaging. This partnership allows kyte.tv to enrich this experience even more."

"An investment in kyte.tv is a logical step in driving the transformation and growth of the converging Internet and communications industries. kyte.tv is a great manifestation of this vision to bring together social networking, user-generated content, and mobile services," said Rob Trice of Nokia Growth Partners. "We are pleased to be working with such an innovative company and look forward to helping kyte.tv grow its audience globally."

About kyte.tv

kyte.tv is the first service to bring together user-generated content, social networks, and mobile services that enables consumers to easily create interactive TV channels, both online and on the go. kyte.tv shows are instantly broadcast to any website, blog, social network, and mobile phone, allowing users to connect and socialize in real-time through features such as chatting and voting. The service is accessible via http://www.kyte.tv/ and operated by decentral.tv, a San Francisco-based company backed by global investors, including: Atomico (co-founded by Niklas Zennstrom), Draper Fisher Jurvetson, Draper Richards, Ron Conway, Swisscom, and Holtzbrinck Ventures. kyte.tv was recently presented with the prestigious Red Herring 100 Award.

Nokia Growth Partners

Nokia Growth Partners is a diversified institutional investment management firm headquartered in Menlo Park, CA. It is fully funded by Nokia with USD200M under management. Nokia Growth Partners invests globally directly into growth stage technology companies as a Venture Capital Fund and participates as a limited partner in select venture capital and private equity funds with its Fund of Funds program. Nokia Growth Partners is funded by Nokia to provide superior returns and investments into companies, firms, and people that are changing the face of mobility, communications, and the internet. For more information visit http://www.nokiagrowthpartners.com/.

kyte.tv

CONTACT: Kathy Johnson of Consort Partners, +1-415-823-9566,kyte@consortpartners.com, for kyte.tv; or Charles Chopp of Nokia Americas,+1-972-894-4573, communication.corp@nokia.com

Web site: http://www.consortpartners.com/

Source: PRNewswire

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