High Fidelity just got a major investment of $22 million, the Wall Street Journal reported yesterday but didn’t get much notice, since it was listed deep in a roundup of Form D regulatory filings.
“Investment was led by IDG Capital and new investor Jim Breyer / Breyer Capital,” High Fidelity founder and CEO Philip Rosedale just confirmed to me.”We’ll have more to say as we get farther along with the beta!”
$22 million is a pretty big cash infusion; in terms of burn rate, you could, say, hire over 200 new employees for a year with that kind of money (or 100 for two). Looks like High Fidelity is aiming for a major push at the mass market now.
Also interesting when you look at what companies this new investor, Breyer Capital, has in its portfolio:
Marvel and the movie developer Legendary (Dark Knight, Interstellar, other massive hit). So also looks like Philip’s new investor sees the consumer entertainment appeal to High Fidelity — not to mention VR.
,
Source: New World Notes