Newsy, a multisource video news services available on both the iPhone and iPad platforms have raised $2 million in their second round of funding. According to Newsy President Jim Spencer, the funding ““will allows us to build revenue, distribution and marketing partnerships; grow our news operations; and deliver a remarkable product for our viewers and our customers.”

Newsy for iPad app (free), received raving reviews when it was released last week and quickly rose to the number 6 ranking in the news category. Currently, Newsy for iPad holds the number 11 spot at the App Store.

Newsy Raises $2 Million

Multisource Video News Analysis Service Closes Its Second Round

(PRWEB) May 5, 2010 – Today Newsy announced that the company has raised its second round of funding of $2 million. Newsy is a multisource video news service that analyzes the world’s news coverage – highlighting the key differences in reporting.

”Newsy’s goal is simple – deliver exceptional multisource, multiplatform video news in innovative ways – we have done that with the recent release of our highly rated and ranked iPad app built specifically for the mobile news customer,” said Newsy President Jim Spencer.

The funding, raised from angel investors, “will allows us to build revenue, distribution and marketing partnerships; grow our news operations; and deliver a remarkable product for our viewers and our customers,” Spencer said.

Newsy operates Newsy.com and its mobile offerings include its popular iPad app, which is a highly ranked app for news in the iTunes’ App Store; its highly rated iPhone app; as well as apps for Android-based smart phones and Intel Atom-powered netbooks.

A news analyzer, not a news aggregator, Newsy offers context with convenience. In 2- to 3-minutes videos, users understand the differences in coverage from different media outlets as well as discover new sources they would not have found on their own.

About Newsy

Newsy ( http://www.newsy.com ), a multisource video news service that analyzes the world’s news coverage, is a division of Media Convergence Group, Inc. Through short videos available on the web and mobile devices (iPhone, iPad, Android-based smart phones and Intel Atom-powered netbooks), Newsy accelerates the understanding of how a news story is covered by global sources.

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