CBS invests in TV-streaming startup Syncbak

Print
Font Size:
Default font size
Larger font size

Posted: Monday, April 22, 2013 12:00 am

CBS Corporation this morning announced that it has made a minority investment in Marion, Iowa-based startup Syncbak. Founded in 2009, Syncbak provides a television streaming platform that utilizes mobile devices' location-based authentication technology to allow local news networks and affiliates to push content to viewers in their area.

The media giant did not disclose the terms of the deal and a Syncbak representative today declined to comment further. A Securities and Exchange Commission filing in February shows the company recently closed a $1 million financing round. It's unknown, however, if CBS was involved in that event.

"Across the country broadcasters are looking for the best way to respond to consumer demand for streaming their content," Syncbak CEO and television industry veteran Jack Perry (below) said today in a press release. "Syncbak's technology provides the right solution at the right time to make that happen."

Earlier this year, Syncbak released a second version of its mobile app, which included native support for the iPad and iPad mini. More than 100 television stations across 70 markets are currently testing Syncbak, including networks like CBS, ABC, FOX and NBC, according to the press release.

"We have admired and worked with Syncbak's CEO Jack Perry since the mid-'90s," CBS Corporation vice president Martin Franks said in the release. "Over the last couple years, we have worked with Jack as he developed Syncbak's very elegant technology platform, which presents several interesting opportunities for broadcast networks, their stations and affiliates. We look forward to collaborating with him as we move the initiative forward."

Syncbak, which at last check had raised nearly $7 million, has also secured strategic investment from National Association of Broadcasters (NAB) and the Consumer Electronics Association (CEA).

 

Credits: Jack Perry photo courtesy of Syncbak.

var _gaq = _gaq || [];

_gaq.push(['_setAccount', 'UA-20272784-2']);

_gaq.push(['_trackPageview']);

(function() {

var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true;

ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js';

var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s);

})();

Copyright ©2014 Omaha World-Herald. All rights reserved. This material may not be published, broadcast, rewritten, displayed or redistributed for any purpose without permission from the Omaha World-Herald. To purchase rights to republish this article, please contact The World-Herald Store.


loading...

SPOTLIGHT »

Inside Business
To submit an announcement for "Inside Business", click here. For questions call (402) 444-1371 or e-mail announcements@owh.com.

World-Herald Alerts

Want to get World-Herald stories sent directly to your home or work computer? Sign up for Omaha.com's News Alerts and you will receive e-mails with the day's top stories.