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| June 28, 2006 | Press Release |
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| DVDPlay Raises $20 Million; Chuck Berger Named CEO |
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| Portfolio Company: DVDPlay |
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LOS GATOS, Calif. - DVDPlay(TM), the leading US manufacturer and operator of DVD rental kiosks, announced today that it raised over $20 million in new equity financing. El Dorado Ventures, Emergence Capital Partners, Palo Alto Venture Partners and Vanguard Ventures participated equally in the funding. To date, DVDPlay has raised nearly $40 million in equity financing. The new financing will be used to fund DVDPlay's national roll-out of their DVD rental kiosks. In addition, DVDPlay has secured a similar amount of lease financing commitments to support their installations through 2007.
DVDPlay also announced that Charles (Chuck) Berger has been named chairman, president and CEO. Berger has served as non-executive chairman of DVDPlay since 2001. Mr. Berger brings nearly 30 years of executive experience to DVDPlay. Previously, Berger was CEO of Nuance Communications and has also served as CEO of Vicinity Corporation, AdForce, Inc. and Radius Inc. He has also held executive positions in finance, marketing and sales at Apple Computer and Sun Microsystems.
DVDPlay offers DVD renters unparalleled convenience, low rental prices and current titles with new releases available every Tuesday. DVDPlay kiosks, situated in heavily trafficked locations such as grocery stores, restaurants, convenience stores and apartment complexes, offer consumers a broad selection of new release DVDs in a compact footprint. DVDPlay's patent pending software and products enable dynamic pricing, promotions, inventory management, advertising and movie trailer insertions, as well as the capture and measurement of key business metrics.
"Chuck Berger's appointment is perfectly timed as the Company transitions from startup mode to an established market leader," said Shanda Bahles, a general partner at El Dorado Ventures and DVDPlay board member. "Chuck's reputation and experience are major assets to the company and we are excited that he is on board in a full-time capacity."
"New technologies and leading-edge business practices have begun to transform the nearly $10 billion North American DVD rental market, and DVDPlay is at the forefront," said Berger. "The company provides consumers with the DVDs they want, when and where they want them. DVDPlay also offers retailers and other commercial property owners the opportunity to capitalize on the DVD revolution. I look forward to being part of the team that will continue DVDPlay's explosive growth," Berger added.
About DVDPlay Inc.
DVDPlay offers DVD renters unparalleled convenience, low rental prices and current titles with new releases available every Tuesday. DVDPlay kiosks, situated in heavily trafficked locations such as grocery stores, restaurants, convenience stores and apartment complexes, offer consumers a broad selection of new release DVDs in a compact footprint. DVDPlay's patent pending software and products enable dynamic pricing, promotions, inventory management, advertising and movie trailer insertions, as well as the capture and measurement of key business metrics. http://www.dvdplay.com
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