Flipps Disrupts Mobile to TV Entertainment and Raises $2.4M to Grow 10M User Base and Expand Premium Content
--Tim Draper and Earlybird Venture Capital invest
--Works with over 250M TVs worldwide without additional hardware or cost
--Over 10M Downloads of the free Flipps mobile application
SAN FRANCISCO, April 30, 2014-- Flipps, the easiest way to stream quality entertainment from your mobile device to a TV, raises $2.4M USD from Earlybird Venture Capital and existing investors including Tim Draper. Flipps will use the investment to build on its rapidly growing business in the US and Europe while expanding its ever growing library of premium content. Flipps is a mobile app for entertainment enthusiasts who want to easily discover and project unique content onto any connected TV using their mobile device (as a remote control) without any additional hardware or set up. Download the Flipps mobile application for free on iOS and Android and start streaming to a connected TV instantly.
Flipps' patented technology immediately works with over 250M connected TVs and is compatible with over 5,000 manufacturer models requiring no set up, no pairing of devices, no cables, no dongle and no set top box. The Council for Research Excellence confirms that TV is still the primary viewing platform with 84% of viewing hours. Additionally, Nielsen cites that searching for and viewing online entertainment on a mobile device continues to accelerate rapidly with the latest year-over-year increase of 37%. With over 10M downloads of its mobile app, Flipps is successfully addressing both of these trends by combining the richness of TV viewing with easy content discovery on a mobile device.
Flipps for Consumers: Discover & Enjoy Unique Entertainment on your TV via your Mobile Device with Zero Effort
Flipps' intuitive mobile interface makes it easy to discover movies, music videos and more on your smartphone or tablet and stream to any nearby connected TV. Flipps has amassed over 100 channels in its growing library of licensed content including popular online TV series like Back On Topps, hit Hollywood movies, and news from The Washington Post. "Watching quality entertainment on your TV has become overly confusing with the need for costly hardware devices and complicated remote controls. People should just be able to lean back and watch what they want, when they want without needing an engineering degree," states Kosta Jordanov, CEO of Flipps. "At Flipps, we've figured out an easy and universally compatible way to turn your smartphone into a magic wand of entertainment that projects onto the big screen."
Flipps for Content Owners: Expand Reach to over 250M TVs Globally & Scale
Flipps selected publishers can now expand their reach across hundreds of millions of TVs worldwide without the need to develop proprietary apps or specialized software to accommodate thousands of different TV models. Integration is quick and easy, and Flipps takes full care of content delivery. "Flipps helps content owners save tremendous resources because integration onto the Flipps video adaptive platform is effortless and scalable," according to Dan Lupu from Earlybird Venture Capital. "With our investment, Flipps accelerates its incredible growth and will finalize more deals with forward thinking publishers eager to reach new audiences." The Flipps distribution channel also offers flexible monetization solutions in the form of advertising and subscription models.
Famed Silicon Valley investor Tim Draper states, "Flipps has created a scalable new TV distribution channel. It is an elegant user experience where TV goes mobile – wherever your mobile device goes so goes your TV. Flipps is turning an entire industry on its head."
Flipps delivers quality entertainment to any nearby TV from your mobile device without any additional hardware. The company has offices in San Francisco, New York and Sofia, Bulgaria and is backed by Tim Draper, Earlybird Venture Capital, Hasan Aslanoba, LAUNCHub and Teres Capital. Flipps holds a patent for its back end technology that allows users to magically 'flip' their content to the big screen. The Flipps mobile application is free and available on the App Store and Google Play. More information can be found at www.flipps.com.
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About Earlybird Venture Capital
Established in 1997 Earlybird has raised over EUR 700 million ($900 million) in fund commitments. We have backed 100 companies, some of which have sparked significant innovations in business and technology and resulted in large scale ($1bn+) IPOs and trade sales. Earlybird backs European companies with global ambitions, and our active portfolio currently includes 27 companies across the consumer Internet and enterprise services space.
Flipps is a part of the Earlybird Digital East Fund, which invests in disruptive consumer Internet, mobile, and enterprise technology companies originating from Turkey and CEE.
Earlybird's investor base includes some of the most renowned institutional investors worldwide. More information can be found at www.earlybird.com.
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