Wednesday, February 7, 2007 6:00:00 AM PDT | VentureDeal Staff
SALT LAKE CITY, UT -- Move Networks announced the December, 2006 closing of its first round of venture capital financing, receiving $11.3 million from Hummer Winblad Venture Partners and Steamboat Ventures, the corporate equity arm of the Walt Disney Company. Move Networks provides technology to enable the delivery of continuous long form video via the Internet. Its solution changes the way producers encode the video for multiple bandwidths as well as how consumers view the video. The company intends to use the proceeds to expand their customer base and develop new functionality for their system.
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