Plex , a 12-year-old streaming provider with a unique combination of third-party access and management tools for users' media assets, has raised $50 million in growth equity. The funds come from one of its existing backers, Intercap. As part of the round, Intercap chairman and CEO Jason Chapnik has joined the board of directors as chairman and Intercap president James Merkur has also gotten a board seat. The financing includes about $15 million in new capital for Plex, with the remainder used to buy shares and options from employees and shareholders. The company said it hopes the injection of capital will enable it to move closer to being a "one-stop shop" for streaming media. "Content providers, creators, and consumers are all paying the price for the explosion of so many streaming media services and the industry needs a trusted way for the experience to be as enjoyable as possible," Chapnik said. " Plex has always been at the forefront of solving new media challenges and we believe they are primed to solve this problem – they are the cable company of the future." Related Story Chicken Soup For The Soul Entertainment Acquires Assets Of ‘Hunters’ Producer Sonar Entertainment Chapnik is… Read full this story
- UFC blazing a social media trail
- Maverick Carter out to silence critics
- Aspire: Magic Johnson’s channel for black families
- Coyotes closer to learning ownership fate
- International Speedway Corporation Reports Financial Results for theThird Quarter of Fiscal
- NFL players question alumni group
- Who's Funding Kevin Johnson's Secret Government?
- China solar company ‘shines’ on World Cup
- NFL labor dispute rises to a new level
Streaming Media Platform Plex Raises $50 Million From Existing Investor Intercap, Installing Its CEO As Board Chair have 262 words, post on deadline.com at April 14, 2021. This is cached page on Movie Breaking News. If you want remove this page, please contact us.