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2013-02-27

Indian Angel Network Exits Jigsee

Indian Angel Network (IAN) has announced its exit from Jigsee, a Mumbai–Canada based mobile video streaming startup. Jigsee’s complete assets were acquired by a mobile video search and delivery company, Vuclip for an undisclosed amount.

Indian Angel Network (IAN) has announced its exit from Jigsee, a Mumbai–Canada based mobile video streaming startup. Jigsee’s complete assets were acquired by a mobile video search and delivery company, Vuclip for an undisclosed amount.

Founded in 2008 by Ray Newal and Areef Reza, Jigsee is a leading provider of adaptive video streaming technology for wireless devices in developing countries. Jigsee raised an undisclosed amount from Indian Angel Network in February 2011. Prior to starting Jigsee, Ray headed content and business development at Yahoo Canada and Areef Reza, the CTO of the company leads the technology development effort.

Piyush Shah, an IAN member, who joined Jigsee’s board said, "Vuclip and Jigsee are positioned in the right place and the right time to deliver timely, contextual and engaging content to emerging markets. The launch of Vuclip education along with Jigsee's great application technology ensures that the masses in emerging markets don't miss out on the mobile video revolution. The Jigsee team looks forward to continuing the journey with Vuclip."

Rehan Yar Khan, an IAN member said, “The emerging world now had over a billion mobile phones and has thus entered the era of mobile first. Mobile video on these largely 2.5G networks will be the primary form of video access, but the challenge will be to serve them in this technologically challenging environment. Jigsee and now Vuclip fulfills this need and is key to the video delivery stack.”

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