Abacast Raises $500,000 for Accelerated Expansion

Funding Rounds

▤ Summary

CAMAS, WA--(Marketwire - November 11, 2010) - Abacast, Inc. (www.abacast.com), a provider of online radio monetization and streaming media solutions, announced today the completion of a $500,000 convertible debt financing. In addition, the company has hired veteran digital media executive Rob Green as its CEO. Mr. Green, a former executive at Nine Systems (acquired by Akamai) and Group Business Development Manager at Microsoft in the Digital Media Division, had been serving as interim CEO and is a member of the Abacast Board of Directors. "Increasing digital revenue is the number one request we receive from our customers," said Rob Green, CEO. Abacasts digital radio platform stands out as an integrated solution enabling terrestrial and Internet broadcasters to reach huge audiences across many devices and do so profitably.

$ Funding

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Amount $500.0K Total raised
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Date November 11, 2010 Announcement date
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Investors Notified Lead investors
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Company http://www.abacast.com Funded company

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applications
Web and Content Management

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$5M to $10M