Alive in 11th hour hunt for funding

HONG KONG: Multimedia travel and learning company Alive Networks is looking for a new investor amid mounting speculation that the Hong Kong start-up is facing funding difficulties. At media's press time, the company had yet to find a new investor, which it had hoped to locate before its May 11 deadline to obtain fresh funds. It is understood that Alive has formulated a statement for staff, saying it remained confident of its future. "In the current economic environment, many businesses - both local and international - are experiencing difficult times. Alive Networks is no exception, but we are all working hard to meet these challenges successfully." It also said it is "inappropriate" for the privately-held company to comment further on what it called "internal business matters". Established by hongkongdotcom's co-founder Ian Henry, Alive's business plan is built around using television, print, personal handheld devices and the internet to sell travel-related products. For example, a viewer watching its television service goes online to book a customised offer. Alive's business premise has, however, come under increasing scrutiny. Observers have pointed out that start-ups are for the internet, while the television business is for media companies that are expanding into the medium or have the cash and strengths already acquired from another successful business. Since its launch at last November's CASBAA conference, Alive has inked distribution deals in Indonesia, the Philippines and Taiwan. Last month, it signed a deal with Taiwan's Videoland. Even with a new investor, Alive faces an uphill climb. With established pay TV players still looking to make a profit out of the sector or the Asian market, Alive's distribution deals are unlikely on their own to have generated sufficient cash flow or significant new revenue streams.

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