Voddler completes targeted new share issue and grows the board, in preparation for future expansion

Press Release   •   Sep 07, 2010 06:00 BST

The Swedish video service Voddler has completed a private placement share issue that provides the company with SEK 40 million in new capital. In addition to private individuals, the Finnish telecom group Elisa, leading provider of communication services in the Nordic region, also invests. Voddler also expands its board by welcoming Mikael Rönnblad, VP Consumer Services Business at Elisa.

In addition to the investment, Elisa and Voddler have also signed a cooperation agreement, whereby the two companies will be working together to bring Voddler to the Finnish market. Elisa is further exclusive rights to offer its customers “invites” to use Voddler.

-          Video and film are strategically important to us, both on current and future markets. It was self-evident to invest in and start a cooperation with Voddler, the leading video-on-demand service on the market, says Vesa-Pekka Nikula, Vice President Business Development at  Elisa

Voddler continues developing its technical platform and its international expansion. At the same time, Voddler’s management stands firm behind the goal of being profitable in Scandinavia by the first half of 2011.

-          We are very happy with the cooperation agreement and with Elisa’s investment in Voddler. Elisa is leading the market in Finland and Estonia, and is a very strong partner when we now want to bring Voddler to new customers and new markets. We are very much looking forward to working together, says Marcus Bäcklund, CEO and board member at Voddler.

Voddler has about 720 000 registered users. Of the 2,500 titles that Voddler carries, over 80% are free movies, financed by advertisement shown before the feature program. So far this year, Voddler has shown close to 4 million films. Voddler is freely available for everyone in Sweden and Norway, and currently on an “invitation-only” basis in Finland and Denmark.

Voddler is privately owned and unattached to the film- and media industries. Among Voddler’s owners and investors are the founders, the coworkers, the management, Equitec Partners and a number of private investors.

For more information, please contact:

Anders Sjöman, VP Communications, +46-70-717 60 78, anders.sjoman@voddler.com

About Voddler
Founded in 2005, Voddler is located in Stockholm, Sweden. Voddler’s mission is to offer a premium video service for users, advertisers and content owners. Voddler brings together premium content from leading content companies including Walt Disney, Dreamworks, Paramount, Warner Bros., Touchstone Pictures, Metro Goldwyn Mayer, New Line Home Entertainment, Columbia Pictures, HBO Home Video, Miramax, Buena Vista, Sony Pictures, Castle Rock Entertainment, Turner Entertainment, Sandrew Metronome, Atlantic Pictures, Scanbox, Noble Entertainment, PAN Vision, Nonstop Media, TVF, FilmFactory and BBC Worldwide.