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Aereo announces $34 million of fresh financing

The perennially controversial Aereo has closed a $34 million Series C round of financing. The new round of financing will support Aereo’s rapid nationwide expansion and increased investments in hiring and technology.  IAC was joined by media investor Gordon Crawford and Himalaya Capital Management, as well as existing investors Highland Capital Partners, FirstMark Capital and others for this additional round of funding.  Crawford, a media and entertainment industry veteran, is one of the industry’s most influential and successful investors, having worked at Capital Research and Management for 41 years. Himalaya Capital Management is led by global investor and human rights activist Li Lu.

“Aereo experienced tremendous growth in 2013 and we expect 2014 to be another blockbuster year,” says Aereo CEO and Founder Chet Kanojia. “Last year at this time, Aereo was launched in only New York City.  Today, Aereo is available in 10 markets and will grow to 15 by the end of the quarter. In 2013, we also launched our first native app for Android, made improvements to enhance the user experience and more than doubled our employee headcount. Consumers are craving choice and options and as a result, we continue to see explosive growth across all our markets.”

Aereo is currently available to residents in the following markets: New York City, Boston, Atlanta, Miami, Salt Lake City, Houston, Dallas, Denver, Detroit and Baltimore.

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