WOWIO Closes $1.7M Funding and Acquires Wevolt

WOWIO, an on-line marketplace that provides access to digital media content and eBooks, closed a 1.7m financing
The investment, which follows a $1m seed round completed in October 2009, was led by WOWIO’s CEO Brian Altounian. 
Subsequently, the company acquired WEvolt, a social community that allows artists working in any medium to upload, promote and monetize their original content. The acquisition strengthens WOWIO’s relationship with the comic book medium and also broadens its expansion to other media.

Commenting on the deals, Mr. Altounian said: “These rounds of financing have given WOWIO the ability to pay off legacy obligations and set the stage for acquisitions, enhancements and new developments to position the company to be a true market leader.
“In addition to technology, an online community and social networking tools, we have added amazing creative talent which will provide WOWIO with studio capabilities to create original content for broad media exploitation”, he added.

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