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iMediaShare, a Bulgarian startup which provides mobile apps that allows users to view internet videos on their TVs, has announced a major spike in downloads on the heels of a decision by Amazon to feature this company in the Amazon AppStore. Upon being featured, Amazon users installed iMediaShare’s app 150,000 times over the course of a day, which lifted the app into the top position among free apps. In becoming the top free app in the Amazon AppStore, iMediaShare managed to leapfrog apps from such players as Facebook, Netflix, and Angry Birds.
Available as a free and paid app for iOS and Android, iMediaShare currently has a userbase of 850,000 active monthly users that is expanding at a 15% rate month-over-month. Seed funding for this startup was provided by LAUNCHub, a 9 million euro Bulgarian seed and acceleration fund which we have previously written about here, here, and here. In total, iMediaShare raised 350,000 euro with 200,000 coming from LAUNCHub and 150,000 from angel investors.
Bianor, iMediaShare’s parent company, is a company which was founded in 2009 to provide consultation and engineering services to companies looking to develop their mobile offerings. I had a chance to speak with Kostadin Jordanov, the CEO and co-founder of both iMediaShare and Bianor, and he told me that iMediaShare emerged as an effort by the Bianor team to develop their own application. While they’ve already developed a clientele that includes such giants as Samsung, IBM, and P&G, the team believed that the experience and technical knowledge developed within their company would enable them to develop their own successful mobile product.
In terms of upcoming developments, Jordanov tells me that iMediaShare is currently preparing for the launch of its own subscription-based channels, which are due to come out next month. From a funding standpoint, Jordanov tells me that the company intends to complete an A round, likely in quarter 2 of this year, once they have achieved 2 milestones, one regarding the number of active users and the other regarding their monetization model.
Just today, Youtube and Netflix announced a partnership to create a service called DIAL, which will act as a competitor to iMediaShare. Google TV and Airplay, from Apple, are also major competitors. Roku allows users to watch online content on TVs, but requires the purchase of its box.
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