RealTime IT News

Replay Networks Inc. Receives $8 Million Investment

Palo Alto, CA-based Replay Networks Inc., which markets technology the ReplayTV set-top device and the Replay Network Service, said that Kleiner Perkins Caufield & Byers is the lead investor of a group investing some $8 million in the company.

Other investors are Vulcan Ventures Inc., the investment organization of Paul G. Allen, and Tribune Co. Replay Networks board of directors, which includes Netscape co-founder Marc Andreessen and former Compaq senior executive Kevin L. Bohren. Hearst was CEO for @Home Network, a high-speed Internet access and consumer online service company after serving as editor and publisher of the San Francisco Examiner from 1984 to 1995.

Replay Networks CEO Anthony Wood said he intends to guide Replay Networks to a place in the Kleiner Perkins pantheon of companies that are household names.

"Consumer and industry response to ReplayTV has been incredible, and this perfectly timed endorsement and infusion of cash adds to our momentum as we lead the personal television revolution," Wood said. "We chose Kleiner Perkins because we wanted Will Hearst's insight and expertise combined with the leverage we'll get as part of the Kleiner Perkins network of companies."

By providing the TV listings and other data for the Replay Network Service channel guide, Tribune has worked closely with the company for several months. giving it a head start in understanding the impact of the technology, Wood said.

With the free Replay Network Service and ReplayTV's digital-recording device, viewers can easily create personalized, on-demand "Replay Channels." These channels can feature viewers' favorite shows, themes or actors so they can watch what they want, when they want. ReplayTV also lets consumers control live TV. Viewers can pause, rewind and then fast forward through shows.

ReplayTV will begin volume shipments in April, starting at $699. ReplayTV customers will receive a free lifetime subscription to the Replay Network Service.