RealTime IT News

Microsoft Invests $11 Million In Audible

Microsoft Corp. and Intel Corp. are among several famous names combining to invest $11 million in Audible Inc. Audible specializes in the secure delivery of spoken audio over the Internet.

Joining Intel and Microsoft in the investment were New York Life Insurance Co., CSK Venture Capital and C. Blair Asset Management.

Audible offers a variety of audio for download at its Web site. Users can store the titles on their PC for playback by an Audible-ready device or by computer. The Web site carries select articles from The Wall Street Journal and The New York Times as well as audio books from a number of best-selling authors.

The Audible Mobile Player holds two hours of audio and the recently-introduced MobilePlayer-Plus can store up to seven hours of programming. The format is also supported by Diamond Multimedia's Rio PMP 300 and will soon be supported by Windows CE-enabled palmtop computers.

"This financing and the industry leaders behind it further ratifies our service as the leader in premium Internet-delivered audio," said Andy Huffmann, Audible's president and chief executive officer.

"It also provides us with the working capital and strategic partnerships to extend our leadership position far into the future."