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$6 million funding for creator of widget mashup tool MCast

Rachel Hawkes (Social Media Portal) - 23 January 2008

US based MixerCast has received $6 million USD in a round of funding led by Intel Capital.  The other investors were ONSET Ventures and Velocity Interactive Group.

MixerCast is the creator of MCast, a tool that allows users to mix almost any type of media into an application that can then be embedded in any website, social network or blog.  MCast users can choose whatever type of media that best suits their needs; from video, music, rich text, interactive advertisements to (select) third party widgets.

Intel Capital's senior investment manager, Gustavo Aray says that MCast creates a bridge between social media, brand advertisers and agencies.  He says, “Widgets have become a powerful tool in the social networking space.  MCast rovides a powerful means to distribute and monetize content and interactive advertising throughout social networks. Our investment highlights our interest in this growing market segment.”

MixerCast plan to spend the $6 million on expansion, development of the MCast tool and customer and partner support.  Current MixerCast partners include Entertainment Tonight / Paramount, CBS, abc, YouTube, Bebo and Facebook.

Velocity Interactive Group and ONSET Ventures state that MCast (and applications like it that will follow) holds the potential to lead the monetization of digital content for social networks and also creates the ability for brands to extend their reach online and create deeper connections.

Velocity Interactive Group was formed in December 2007 as a result of a merger between Velocity and ComVentures.

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