Nokia Funds Startup That Lets People Create TV Networks - InformationWeek

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Nokia Funds Startup That Lets People Create TV Networks

Kyte allows Internet users to create their own TV channel and broadcast it on Web sites, blogs, social networks, and cell phones.

Kyte, a photo- and video-sharing startup, on Tuesday received funding from the private equity and venture capital arm of Nokia, the world's No. 1 cell phone maker.

Nokia Growth Partners invested in Kyte to help with the distribution of Kyte's video service, kyte.tv, which allows Internet users to create their own TV channel and broadcast it on Web sites, blogs, social networks, and cell phones. People can share Kyte channels with others or have other people take part in their shows by adding their own content, voting, and chatting live with other viewers.

Kyte is funded by top venture capital firms, including Draper Fisher Jurvetson, Draper Richards, and Atomico, whose principal visionary, Niklas Zennstrom, co-founded trendy startups like Skype and Joost.

The vision is to "bring together social networking, user-generated content, and mobile services," said Rob Trice of Nokia Growth Partners, in a statement. YouTube, which was purchased by Google in November, already brings those pieces together through a popular video-sharing service that receives over 100 million video views and more than 65,000 new videos uploads daily.

Earlier this year, Nokia struck a partnership with YouTube that lets Nokia customers view YouTube content on their cell phones via broadband links. Nokia also developed new application software called Nokia Video Center for finding, viewing, and storing video on Nokia N-series multimedia phones.

Video-sharing and social-networking services have proven to be a huge success among Internet users, and the latest trend is delivering such content on cell phones.

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