Samsung invests in Pluto TV

Pluto TV, the free Internet television service in the US, has received $5 million in funding from Samsung Venture Investment Corporation, the venture capital arm of the Samsung Group, with participation from other investors totalling $8.3 million. The funding will be used to further expand Pluto TV’s product, content and marketing efforts.

“Samsung is the global leader in the TV market, changing the way people experience entertainment through constant innovation,” said Tom Ryan, CEO of Pluto TV. “Their investment in Pluto TV is a great vote of confidence in our mission to bring free Internet television to consumers everywhere.”

“Pluto TV is the leading free Internet TV service in America and we see huge potential for the company as they scale their cutting edge offering to viewers around the world,” said Jihong Kim with Samsung Venture Investment Corporation.”

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