S3 Ventures Joins Accel Partners and Austin Ventures in ON Networks Investment

AUSTIN, Texas (December 18, 2007) – S3 Ventures announced today that it joined Accel Partners, Austin Ventures, and AT&T in the Series B investment of ON Networks.   Accel Partners of Palo Alto, California led the funding round. The Series B will be used to fund company expansion, including the development of its virtual studio technology platform, new shows, and strategic business relationships with the world’s top content distribution networks and platforms.

About S3 Ventures
S3 Ventures is an early-stage venture capital firm investing in companies which address large market opportunities in the information technology and medical device sectors. We invest primarily around the Southwest with a focus on Texas. Our offices are located in Austin and Houston. S3’s team is a group of seasoned investors and successful entrepreneurs who have repeatedly built companies into great returns for investors. At S3 today, we help talented entrepreneurs take their technology and market knowledge and form valuable businesses in a methodical fashion. For more information about S3, visit www.s3vc.com.

About ON Networks, Inc.
ON Networks is changing the way traditional TV programs are created, distributed, consumed and monetized. It’s a new media company delivering original, high-definition shows on-demand across multiple digital platforms, including the Internet, digital cable, IPTV, and various mobile and gaming devices. Offering lifestyle programs covering a variety of topics, ON’s weekly shows satisfy the growing demand for relevant, smart and entertaining programming that is available when, where and how viewers want to watch it. ON Networks is a privately-held company backed by Accel Partners, Austin Ventures and AT&T. See tomorrow’s television programming today at www.onenetworks.com.