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Nokia invests in web video firm Kyte.tv

Kyte.tv aiming at YouTube, MySpace & Joost

Nokia is the latest investor to inject capital in a new venture for sharing pictures and videos on the web.

Through its venture capital unit Nokia Growth Partners, the Finnish manufacturer has invested an undisclosed sum in Kyte.tv, owned by Decentral.tv Corp, in a move to help users of its mobile phones consume, create and share media, the company said.

Nokia joins several other Kyte.tv investors, including the mobile subsidiary of Swisscom, the venture capital arm of German media company Verlagsgruppe Georg von Holzbrinck and investment company Atomico Investment Holdings, co-founded by Niklas Zennström.

A pioneer of peer-to-peer networking technology, Zennström helped launch the VoIP company Skype and, more recently, the internet TV operator Joost.

Launched earlier this year in San Francisco, Kyte.tv joins YouTube, MySpace, Slide and several other web companies that permit users to generate content and share it with others. The site allows users to upload photographs or videos to create interactive TV channels, add music or text, then broadcast them from a mobile phone or PC to any website, blog, social network or mobile phone.

Viewers can contribute to users' "channels" via live chat or ad hoc opinion polls. The channels can also be embedded on social network sites such as MySpace.

While Swisscom aims to offer Kyte.tv as a feature on its mobile phone service and Holzbrinck plans to add the service to its electronic media distribution network, Nokia provided no specific details other than that the company hopes to help the web startup "grow its audience globally”.

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