Flixster Gets A Thumbs Up From Investors, Raises $12.5 Million
Movie ratings site Flixster raised $12.5 million in new funding, according to an SEC filing. The last time Flixster raised money was a $5 million Series B in April, 2008. The new round brings the company’s total capital raised to $19.5 million.
Flixster operates both a Web site and a companion iPhone app, which is the most popular movie app in the App Store. The iPhone app lets consumers find nearby movies, add their ratings, and buy tickets. In January, the company bought Rotten Tomatoes from News Corp for an undisclosed sum. The combined reach of the two movie review services is 30 million people, according to the companies.
The new capital could be tied to the purchase. According to the filing, the first sale of securities in this round was on December 31, 2009, just a few days before the deal closed. Flixster probably used the money, at least in part, to finance the acquisition.
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