Los Angeles
– 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
distribution consideration.

Los Angeles-based WOWIO said the funding has helped
it pay off legacy obligations and set the stage for acquisitions.


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