Twistbox Raises $19.5 Million, Sidesteps ‘Adult Content’ Stigma
Summary
Twistbox Entertainment has announced the close of a round of funding led by ValueAct Capital, netting the mobile content provider $19.5 million. But from the looks of it, dubbing its adult content "late night entertainment" and grouping its offerings under the umbrella of Waat Media has not only paved the road to last Septembers $12.5 million round, but also proved to be a catalyst in this weeks funding announcement. “We have explored investments in many mobile content service providers," said ValueActs Managing Director, Jimmy Price. "Our diligence indicates that Twistbox has built a unique approach as a category leader in its late night and games businesses. For a look into some of the other hurdles adult-oriented start-ups face with investors, be sure to check out our interview with Zivitys CEO, Jeffrey Wescott and CSO, Cyan Banister here...