Cisco, AT&T invest $15.5M in Akimbo

Cisco has followed-up on its splashy entrance into the IPTV sector last year by investing in set-top box (STB) maker Akimbo. Cisco and AT&T along with returning investors raised $15.5 million for the IPTV start-up. Akimbo retails a STB for $69.99 plus a monthly fee of $9.99, which allows subscribers to download content from Akimbo's library of 10,000 movies via the users' broadband connections. AT&T's investment is no surprise since the start-up is providing the STB's for the service provider's Homezone service, which is scheduled to launch later this summer.

For more on Akimbo's VC round:
- read this article from CBR Online

Suggested Articles

Charter CEO Tom Rutledge acknowledged the struggles of the traditional pay TV bundle, but predicted that the cord cutting trend would slow down soon.

Effectv is launching Mnemonic, a full-service creative agency and a self-service creative portal through Effectv Ad Planner.

MobiTV is partnering with Telia Carrier to give its pay TV customers better streaming video app performance through direct access to data centers.