MobiTV Financing Tops $100 Million

EMERYVILLE, November 2: MobiTV today announced the second
close of its Series C funding with an additional $30 million investment and two
new investors, Adobe Systems Incorporated and Hearst Corporation, bringing the
total round to more than $100 million.

Additional investors in the round include Oak Investment
Partners, Menlo Ventures, Redpoint Ventures and Gefinor Ventures. These funds
will be used to further develop the company’s mobile and broadband TV and radio
services.

"We are truly fortunate to have garnered such a
fantastic set of partners that share our vision of transforming the way people
experience and interact with TV and radio wherever they are, no matter what
device they happen to be watching," said Dr. Phillip Alvelda, the CEO,
chairman and co-founder of MobiTV. "We plan to use these funds to
strengthen our current market lead, and to invest in further research and
development of new network technology standards such as WiMAX."