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Zoom Media Snares $30 Million Cash Infusion
Zoom Media & Marketing has received an injection of cash from venture capital firm ABS Capital Partners. ABS is investing $30 million in the company; Zoom plans to focus on building out its lifestyle, location-based channels at the heart of its digital network.
“Digital trumps everything and given the sea change occurring in media, this is the ideal time to expand our digital offerings,” says François de Gaspé Beaubien, chairman and CEO of Zoom Media & Marketing.
Zoom operates digital media networks in over 2,500 venues, including extensive operations across the top 90 DMAs in the U.S. The company also has static indoor billboard advertising in over 8,000 venues across North America. Zoom’s networks broadcast customized video programming, television advertising, digital signage communications and promotional venue content through digital displays in gyms and bar/restaurant environments.
The investment by ABS Capital Partners provides a tacit endorsement for the burgeoning digital out-of-home media sector, writes MediaPost.