Thu, Jan 20, 2011 | 15:41 GMT
Amazon announces acquisition of LOVFiLM
Amazon has announced it’s acquired Europe’s DVD-rental service LOVEFiLM for an undisclosed amount.
Speaking with VentureBeat, Balderton Capital’s Dharmash Mistry -a main investors in LOVEFiLM – has said the reason Amazon went ahead with a full purchase was due to LOVEFiLM’s streaming service. With 20 percent of the service’s movies available digitally and the growing popularity of Internet enabled TVs, Amazon jumped on the opportunity.
Amazon never mentioned the figure it posted on the check, but $200 million is the current rumor. Before the purchase, Amazon owned a 42 percent share in the company.
The firm plans to leave the LOVEFiLM site live, but if Amazon has any other plans for the service, it was not disclosed.
Other investors in LOVEFiLM include: Arts Alliance Media, Esprit Capital Partners and Index Ventures.
9 comments
#1
Prof.Dr.Moertel
20/01/11, 3:47 pm
*psst* headline typo
#2
mingtons ghost
20/01/11, 3:57 pm
That reminds me i need to watch Mesrine part 2 tonight
#3
Psychotext
20/01/11, 4:02 pm
/posts spoilers for Mesrine
#4
FabioPal
20/01/11, 4:46 pm
*coff*head*coff*line*coff*
#5
LePlatypus
20/01/11, 5:17 pm
*cough*learn*cough*to*cough*spell*cough*
#6
tenthousandgothsonacid
20/01/11, 5:43 pm
Maybe they’ll finally sort out their differences with Universal. Not being able to rent their films is a major pain in the arse.
#7
xino
20/01/11, 8:02 pm
wtf are all your problem man!?
i hate Grammar Police or Gramma Nazis.
anyway Lovefilm was alright until they nick your money hideen, you’ll find out just why other people are leaving it.
#8
Psychotext
20/01/11, 8:05 pm
“Lovefilm was alright until they nick your money hideen”
What’s this?
#9
xino
21/01/11, 11:24 am
i switched to PAYG, had 2 remaining credits left until I found out I was charged £15 for topping up 6 credits!
I’m not using those farks again!