Podcast Network Provider Wizzard Nabs $7.5 M Investment

Jul 3rd, 2007 | By | Category: Audio Podcasting, Making Money with Podcasts, Podcast Hosting, Podcasting Networks

wizzardlogo.jpgThe Pittsburgh (PA) Tribune-Review reports that Wizzard Software Inc. “entered into an agreement with four institutional investors for $7.5 million in equity financing.”

Wizzard has, in the past year, acquired three podcast-hosting networks, Switchpod, Blast Podcast and Liberated Syndication (Libsyn). This new batch of financing follows a $1.75 million investment announced last October. That earlier financing round came hot on the heels of the announcement that the company was acquiring Libsyn.

Chris Spencer, Wizzard CEO, issued a statement about this most recent investment: “This capital infusion allows us to continue funding the growth of our recently announc[ed] podcasting acquisitions and will allow us to accelerate expansion of our overall podcasting efforts, in which we see tremendous potential.”

“Management believes that upon an effective registration with the SEC (Securities and Exchange Commission), Wizzard will qualify for a listing on a national stock exchange,” said company Chief Financial Officer John Busshaus. Wizzard’s stock currently is listed on the Over-The-Counter Bulletin Board.

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