GBox Closes $5 Million First Round To Develop Digital Content Marketplace

This story was written by Tameka Kee.
Digital gifting platform gBox has raised $5 million in a first round of funding. Unspecified private investors in the U.S. led 80 percent of the round, with European backers supplying the remainder, according to VentureWire. The Cupertino, Calif.-based startup will use the funds to grow beyond distributing music and user wishlists: founder and CEO Stefan Roever told VentureWire the planned gBox platform would act as an online marketplace for content owners, publishers and users. gBox would make money by charging transaction fees whenever a user purchased a piece of contentbe it video, music, a game or other documentfrom a participating vendor. Launched in 2006, gBox got angel funding in early 2008.

By Tameka Kee