June 25, 2012
Loeb & Loeb LLP represented Condition One, a New York-based developer of a pioneering new iPad/iPhone video application, in a seed financing investment led by tech entrepreneur Mark Cuban.
The Condition One technology takes 180-degree interactive video footage shot with a fisheye lens and translates it into clear, flat footage that can be played on the iPad or iPhone, enabling viewers to physically look around and immerse themselves in the environment while the video is playing. The application allows users to explore inside the image by moving their tablet around to see a panoramic view of each shot. The startup has partnered with Discovery Communications, Mercedes, The Guardian, Popular Science and other media companies and brands to pilot the technology.
Condition One met Cuban through the TechStars New York program, which helps young companies figure out their business model and connect with investors.
Loeb & Loeb attorneys Joseph Daniels, Alison Pollock Schwartz and Daniel Reichman represented Condition One in the structuring and execution of the transaction.