Alive in 11th hour hunt for funding

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