Piano Media Stirs Up Industry With EUR2 Million
The Slovak startup has raised the money from 3TS, one of the leading private equity fund in Central and Eastern Europe. Launched in May 2011, enables online publications to offer their readers premium content on a subscription basis. In July 2011 it raised €300,000. In the two test markets, Slovakia and Slovenia, readers pay monthly subscription of €3.90 (Slovakia) and €4.89 Euros (Slovenia), which enables access to the premium content of all participating online media, a total of 60 websites and 20 publishers. The publishers receive a share of the revenue based on the traffic generated, while Piano Media keeps a commission.