AudioMicro Receives Fotolia Investment
AudioMicro and Fotolia To Partner in Content Licensing Ventures

LOS ANGELES, CA, February 04, 2011 /24-7PressRelease/ -- AudioMicro, which offers the world's largest collection of user-generated royalty free music and sound effects, announced today that it has received an equity investment from Fotolia, Europe's leading micro stock photo site. Existing investor DFJ Frontier, a West Coast seed and early-stage investor, also participated in the financing, which totaled $750,000. In connection with the financing, Oleg Tscheltzoff, co-founder and chief executive officer of Fotolia, has joined AudioMicro's board of directors.

Fotolia and AudioMicro intend to collaborate on new projects, each targeting a different content vertical. They intend to launch four of these projects by the end of next month. Fotolia, which is backed by TA Associates, also owns Flixtime.com, a site that turns photos into videos, and Photoxpress.com, a subscription photo service.

"AudioMicro is a leader in crowd-sourced stock music and sound effects," said Tscheltzoff. "We're pleased to partner with them to accelerate their business."

"Fotolia's investment and partnership is a great endorsement of our vision, and recognition of the traction we've gained," said Ryan Born, founder and chief executive officer, AudioMicro. "We're delighted to work with the Fotolia team."

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