SEATTLE-Dwango North America Corp. raised $15 million in a private placement of Series D convertible preferred stock, the mobile content provider said Thursday.
Dwango sold 15,000 shares to four investor groups through Wedbush Morgan Securities. The company offers branded content from Playboy, ESPN, Rolling Stone, Beliefnet and Napster.
“The financing allows us to continue the strong growth we are experiencing and to enhance our presence in the mobile arena,” said Rick Hennessey, Dwango’s chief executive officer. “We see significant opportunities to develop and acquire additional content as well as to expand our distribution channels.”
