SAN FRANCISCO, May 1, 2017 /PRNewswire/ -- A year later after their successful Indiegogo campaign, the CINEMOOD startup made a statement announcing the exclusive start of sales in the United States on the world's largest online retailer Amazon. The product can also be purchased on the official website. In the future, the company is going to cooperate with US offline retailers.
Paul Zhuravlev, co-founder of the CINEMOOD Trendsetters Co., said, "62% of our backers on Indiegogo were from the US, so the local market has tremendous potential for us. Before we entered the American market with ambitious goals, our company not only created the concept of a mini-cinemas network, but also implemented it in a portable device CINEMOOD Storyteller and a series of accessories with NFC tags, started sales in the European market and closed the round A thanks to the IIDF (IIDF is one of the most active funds in Europe that provides support for start-ups at the early stages of their development by investments and acceleration programs). From partners' search to the sales boost, the American market is very perspective for us. The team has many plans that need more opportunities for the implementation."
Plans for the future
In March, the company launched an iOSapp. Also it's going to introduce an Android app in the second quarter of 2017. The app will allow users to control the CINEMOOD Storyteller on distance, manage YouTube casting, send video messages to the device and set a sleep timer. Now the company is in negotiation with animation studios Disney and Warner Brothers to expand the library of content. Plans for this year also include profit achievement and the integration with major OTT-players.
"CINEMOOD has few rivals among media devices for children. It's not just a portable projector but an entire ecosystem that includes apps, preloaded content, many vendor agreements, etc. Essentially, it's a new, original content distribution channel. As investors, we believe in the business model of CINEMOOD. It's viral, it shows great retention rate (over 1/3 of all owners use it at least once a week), and it has a great revenue share proposition," stated Sergei Negodyaev, Portfolio management director of the IIDF.
What is CINEMOOD Storyteller?
The CINEMOOD platform consists of the CINEMOOD Storyteller, a portable noiseless mini-cinema projector, and a set of silicon covers shaped like cartoon characters that feature NFC-tags that trigger content downloads. It is pre-loaded with +150 hours of multilingual content including licensed content we loved as kids. CINEMOOD surpasses competitive mini-projectors because it is designed especially for young viewers - the user interface is simple enough for little ones, the entire mini cinema fits in the palm of their hands, and the walled-garden platform ensures that only age-appropriate content is projected.
CINEMOOD is the international name of the European company "MULTiKUBIK" founded in 2014. The company's mission is to revolutionize the way kids access entertainment and educational content and spend time with their families. Startup has passed Bang&Olufsen acceleration program in 2015 during the product development. In 2016 CINEMOOD launched a successful crowdfunding campaign on Indiegogo raising USD $150,000 worldwide and successfully shipped products to the backers in December 2016 (less than 0,05% crowdfunding projects raises its goal and ship products in time). The same year Startup won USD $55,000 in the Startup Village competition. In January 2017, the IIFD supported CINEMOOD by investing USD 2.5 million Series A Round.
Public & Community Manager
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cinemood-started-sales-launch-worldwide-300448671.html