iFilm Secures $10 Million
Internet entertainment destination iFilm has secured US$10 million more in financing. The new funds will keep the Website in operation well into the next year. New investors in the dotcom were Yahoo! and cable executives Marc Nathanson and Leo Hindery. Axiom Ventures, Eastman Kodak Co., Sony Pictures Entertainment and Vulcan Ventures were the returning investors. Officials at both iFilm and Yahoo! declined to give specifics about how the investment will change the two Net firms' relationship. However, negotiations are in full swing to have iFilm utilize Yahoo! as a means to exploit their content in a wider way across the Internet. With the wintry investment climate surrounding entertainment sites currently, this round of funding bodes well for iFilm and its future.