CES: Aereo to Expand to 22 Cities in 2013

Raises $38 million in Series B funding
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Complete Coverage: CES 2013

Aereo has announced that it will expand its
operations into 22 cities in the course of 2013, which would expand its
potential reach to about 97 million customers.

The
company, which is already operating in New York City, will deliver
subscription service costing $8 a month or $80 a year that provides broadcast
signals to mobile devices.

The
expansion and the company's announcement that it has raised an additional $38
million in Series B funding raises the stakes for broadcasters, who have sued
the company over copyright violations.

The
cities "identified for expansion are: Boston, Miami, Austin, Atlanta,
Chicago,Dallas, Houston, Washington, DC, Baltimore, Detroit, Denver,
Minneapolis, Philadelphia, Pittsburgh, Tampa, Cleveland, Kansas City,
Raleigh-Durham (N.C.), Salt Lake City, Birmingham (Ala.), Providence (R.I.), and
Madison (Wis.)," the company noted.

These
22 markets represent the first phase of Aereo's planned nationwide
expansion.  The rollouts will occur during 2013 and start in late spring.

The
Series B round of financing was led by existing investors IAC and Highland
Capital Partners. Previous investors from Aereo's Series A funding round,
including FirstMark Capital, First Round Capital, High Line Venture Partners,
and select individuals, also participated in this second round of financing.

The
announcement was made by Aereo's CEO and Founder, Chet Kanojia, at the Citi
Global Internet, Media & Telecommunications Conference in Las Vegas.

Related

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