Cuban Makes Flingo Investment - Twice

Cuban Makes Flingo Investment

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San Francisco - Smart-TV apps publisher

Flingo

said Wednesday that it has received funding from entrepreneur Mark Cuban, founder of Broadcast.com and HDNet and owner of the NBA's Dallas Mavericks.

Cuban's investment along with those of Gary Lauder, managing director of Lauder Partners, brings Flingo's Series A funding total to $8 million.

Flingo said August Capital led a $7 million Series A financing in February. Available on more than 8.5 million screens in 118 countries, Flingo's smart-TV software enables a social experience integrated with broadcast content both on the TVs and second screens, including tablets, laptops and smartphones.

The company said Cuban discovered Flingo at International CES in January when he saw a crowd in the Flingo booth watching a demonstration of its SyncApps technology. The system enables viewers to share what they're watching with friends and followers on social networks directly from the TV, Flingo said in a statement.

Unlike other smart-TV initiatives that attach a keyboard and mouse to the TV like a PC, Flingo treats broadcast TV as a platform.

According to the company, Cuban and Flingo CEO Ashwin Navin determined a path for Cuban to invest in the app developer.

"I'm excited to be part of the Flingo experience," Cuban said in a statement. "I truly believe the future of TV is TV and Flingo will be one of the companies out front."

Flingo's SyncApps platform brings contextually relevant content to the TV screen, laptop, tablet or smartphone while watching live TV.

In one click, viewers can instantly share favorite moments with friends or easily participate in the program-related conversations on Twitter and Facebook.

Flingo's core technology uses algorithmic content detection to identify and analyze hundreds of channels of live television content in Flingo data centers across the country.

 "We are thrilled by these strategic partnerships with some of the brightest minds in video technology and programming," stated Ashwin Navin, Flingo CEO and co-founder. "Working with Mark Cuban and Gary Lauder, who have an overwhelmingly successful investment record in the technology and digital media industries, and their colleagues in the industry helps shape our product roadmap and engagement model with media companies and operators. Their confidence in our company and shared belief in our vision is tremendous validation of our role in the TV ecosystem. These relationships lay the foundation for many more partnerships we will announce in the future."

Flingo currently has partnerships with Fox, Showtime, Warner Bros., CBS, Blip, Vimeo and Linkin Park on hardware platforms from Samsung, LG, Vizio, Sanyo, Insignia, Western Digital, Netgear and others.

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