By JACK WEATHERLY
Elation Media, parent of Internet TV startup OTV, has passed two milestones in its efforts to establish a holistic Internet network since founder Bob Schnitzer announced in late April his intention to create the Jackson-based enterprise.
In mid-June it closed out its $150,000 seed funding round with an equity buy-in by a Kansas businessman, Paul Mai, founder of Salina, Kan.-based PKM Steel Service.
“I’m attracted to new ventures based main on one thing — its leadership,” Mai said in a news release. “I’ve known Robert for many years and when he told me that Jerry Levin had come on board as chairman, I knew it was time to jump in.”
Levin is former chairman and chief executive of Time Warner and founder of HBO.
Last week, Elation announced that it had hired a New York entertainment investor banker as a consultant during its $3 million Series A funding round. “As of today (June 16), our raise-up is offering on crowd funding platform EquityNet.com. We expect to close well within the 90-day offering period,” Schnitzer said.
Larry Haber, the investment banker, said in a release that “I’m certainly not your typical holistic consumer, but I can see this service being profitable for decades to come.”
Schnitzer describes the holistic approach as personal health and growth, world peace and environmental awareness.
The city is a touchstone for Schnitzer and Levin. Schnitzer who directed in the mid-1970s in Jackson “Premonition,” a thriller movie with a bit of a cult following. Levin who sold HBO in Jackson to the first cable system to carry it at the time Schnitzer was directing his film.
Since then, Schnitzer has been in media management in Los Angeles, where he keeps an office, though he operates out of the former studios of the city government channel in One Jackson Place.
The startup has gotten the attention of websites that track such endeavors. Keith Liles wrote on killerstartups.com on June 5 that he is impressed with goals and “the young company’s pedigree and ambition.”
“Elation Media is out to change things,” Liles wrote. “This company looks to speak the language of (an audience) currently shut out of mainstream media and offers body-mind news, cutting edge information and enlightened entertainment.”