Fotolia has made what it calls a "strategic investment" in AudioMicro, which offers user-generated royalty free music and sound effects.
DFJ Frontier, a top-tier seed and early-stage investor, also participated in the financing, which totaled US$750,000. In connection with the financing, Oleg Tscheltzoff, co-founder and chief executive officer of Fotolia, has joined AudioMicro’s board of directors.
Fotolia and AudioMicro intend to collaborate on new projects, each aimed at a different verticla market. They intend to launch four of these projects by the end of next month. Fotolia had previously collaborated with AudioMicro on Flixtime.com, an online service that helps users create dynamic, music-filled videos from standard images and video clips.
Fotolia has continued to expand in other areas - with its collection recently growing to over 12 million images, and geographically as well, with offices and localized sites debuting in Russia, China, Turkey and Korea within the last year.