Ocho bags USD1.65m in seed funding.
M2 EQUITYBITES-November 11, 2014-Ocho bags USD1.65m in seed funding
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11 November 2014 - US video-based social sharing software developer Ocho announced today that it had completed its seed financing round, collecting USD1.65m (EUR1.32m).
Participating investors included Mark Cuban, Social Starts, Matt Brimer and Jiawei Wang. The company will use the funds to expand the capabilities of its product and improve its speed, as well as to enhance product development and strengthen its partnerships, Ocho said.
Ocho's app captures eight-second full-screen videos, regardless of the way the user is holding the device. The app was created to empower expressions and engagement that do not depend on the distance and are closer to real life, said Ocho co-founder and chief executive Jonathan Swerdlin.
Ocho is changing the way people share their stories by creating this powerful, video-based network, commented Cuban.
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