mDialog Taps Some Angels
Just when you thought the Canadian angel investor had disappeared, Toronto-based mDialog raises $3-million to expand its online video business.
It’s pretty significant given angels north of the border have kept a low profile since the dot-com boom ended. Part of it has to do with the fact many of them were burned when the bubble burst; part of it has to do with being treated roughly by VCs; and part of it has to do with the fact our capital gains tax laws make angel investing a challenging proposition given the risk involved.
So who’s mDialog and how/why was it able to attract angel investors?
The Toronto-based company has developed a desktop-based video uploading tool that lets you convert high-quality video files into smaller files - and keep the same quality levels. For video producers looking to use the Internet as a distribution tool, mDialog’s technology could be extremely appealing.
mDialog has hitched some of its strategic horses on Apple by licensing Apple’s MPEG 4, H.264 video standard. This lets mDialog create videos that can be downloaded and viewed on iPhones, iPods and Apple TV.
For more thoughts on mDialog, check out Venture Beat and Mashable.
Technorati Tags: mDialog, Apple
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POSTED IN: Venture Capital
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