Microsoft Invests $11 Million In Audible
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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.
"It also provides us with the working capital and strategic partnerships to extend our leadership position far into the future."