Strategic equity stake to drive focus on world’s fastest growing market
Redwood Shores, Calif. - September 15 2014 – Inno Valley, an incubator and accelerator, based in Shenzhen, China, today announced it has taken a strategic equity stake in Silicon Valley based xTV, a pioneer in new Media as a Service (MaaS) sector.
“Our strategic equity stake in xTV is a very important first step in our plan to establish xTV in China”, said Bo Zhu, CEO at Inno Valley. “We have a substantial network of strategic partners in the TV and Internet sector which will greatly benefit xTV”, said Mr Zhu.
“This is a fabulous opportunity for xTV to expand xTV into the Chinese market” Said Joe Ward CEO of xTV. “Bo and the team at Inno Valley will be working with myself and the xTV team to establish a subsidiary and management team in China within the coming months with a focus on enterprise media and publishers”.
The strategic investment follows on from UST-Global and Applabs recent $2.2M combined investment into xTV and significantly supports xTV’s path to go public on the Australian Securities Exchange in November this year.
About Inno Valley
Innovation Valley is a focus on the TMT and mobile Internet industry incubators, accelerators. Innovation Valley aim is to help entrepreneurs improve the success rate of entrepreneurship. Learn from Silicon Valley Innovation Valley incubator, accelerator mode, entirely through the sharing of successful entrepreneurs to get a commercial return value, and thus the most help entrepreneurs succeed power. Sponsors, shareholders and strategic partners Innovation Valley covers Tencent, 360, UCweb, all network and other well-known Internet companies, but also a well-known risk Renaissance, Tiger Tong inject funds and other investors, we can say with Internet Innovation Valley all resources on the upstream and downstream industry chain."Empty talk, hard work and prosperous" innovation Valley uphold style. Innovation Valley has consistently adhered to do everything possible to service entrepreneurs, while creating more value for entrepreneurs.
About xTV
xTV is the Next Generation Media Co. which delivers the platform to build your .TV
Founded in 2011, the company’s vision is to deliver any organization with the capability to lower the cost of content production and multiply the consumption of their media by delivering a true, real-time, lean-back TV experience without the need to install new devices or applications.