– WOWIO, an online distributor of digital media content and e-books, announced
on Thursday that it has raised $1.7 million in private financing, and acquired
WEvolt, a social network for artists and their fans.
The funding round was led
by WOWIO CEO Brian Altounian, and follows a $1 million seed round raised last
WEvolt’s platform lets creators generate revenues by participating in ad
sales and merchandising activities, as well as submit their content for broader
Los Angeles-based WOWIO said the funding has helped
it pay off legacy obligations and set the stage for acquisitions.