Elation Media chairman Gerald Levin announced that Kansas business leader Paul Mai has taken an equity stake in the company, helping to close out the media start-up’s $150,000 seed funding round for an undisclosed amount. Levin is the former Chairman/CEO of Time Warner. He is also part of the team that founded HBO and served as its CEO. He reported that Maihas’ investment now enables the company to move on to its Series A round of funding.
Mai is the founder and former CEO of Salina-based PKM Steel Service, Inc. A native of Schonungen, Germany, Mai began PKM in 1962. Currently, the firm employs over 350 men and women in the Kansas heartland. Mai’s daughter Frieda Mai-Weis became CEO when he retired in 2010. He stated:
“I’m attracted to new ventures based mainly on one thing — its leadership. I’ve known Robert (Elation Founder/CEO Robert Schnitzer) for many years, and when he told me Jerry Levin had come aboard as chairman, I knew it was time to jump in.”
Robert Schnitzer has been a media executive in New York City and Los Angeles for over thirty years and produced several successful independent motion pictures and television programs. Mai explained:
“Start-ups with Schnitzer’s and Levin’s vision and experience are hard to find, and are often snatched up by (investment) bankers in Silicon Valley or Wall Street before Main Street investors even know about the opportunity.”
Elation Media is a new global media venture developing 24×7 live and on demand television and internet channels serving the worldwide holistic consumer market. Programming topics include alternative medicine, world peace, visionary art, personal growth and the environment. The company will launch OTV Live and OTV On Demand in the fourth quarter of 2015. Based in Jackson, Mississippi, the company also maintains a sales office Los Angeles, California.
Referring to the exploding popularity of natural foods, yoga and environmental sustainability Mai noted:
“Even in little Salina, Kansas I can see this all this holistic business is one of today’s fastest growing lifestyle markets.”
Now kicking off its Series A funding round, Levin and Schnitzer plan to continue offering investment opportunities in the company to small but accredited investors and forgo typical venture capital participation. Schnitzer added:
“Now that the SEC has issued its guidelines for the Crowdfunding Act, small investors can get in on the ground floor like the big boys, and cash out like the big boys did with Facebook, Google and Apple. As of today, our raise-up is offered on crowdfunding platform EquityNet and the response has been steadily building. We expect to close well within the 90-day offering period.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!