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HomePipe Networks Secures Series A Funding

Award Winning Digital Content Access and Sharing Solution Looks to Drive Immediate Expansion and Accelerate Subscriber Growth

SEATTLE – March 8, 2011 — HomePipe Networks™, the leading innovator in digital content sharing and access, announced today it has closed $1.1 million in Series A financing from a private group of investors. The capital will support the expansion of the HomePipe service including product enhancements and programs aimed at accelerating the HomePipe subscriber base.

"This infusion of capital is in recognition of the innovation and value HomePipe has generated to thousands of consumers and business professionals with our service and the enormous opportunity it represents," said Chris Hopen, co-founder and chief executive officer of HomePipe and co-founder and former CTO of Aventail Corporation. "By leveraging today's investment, HomePipe can continue to accelerate new opportunities, build our subscriber base and continue the momentum of providing the best next generation content sharing and access service available."

The HomePipe service revolutionizes the ability for today's mobile consumers and professionals to quickly, easily and securely access, view and share digital content (e.g. high resolution photos, videos, presentations, documents, and music) stored on a home or work computer from any web browser or mobile device including Apple iPhone® and iPad, Google® Android, and Windows® Phone 7 - all without more cloud storage, uploading, syncing, organizing or complex software and hardware installations requiring additional fees. 

"HomePipe continues to experience explosive demand for its content sharing and access service," added Parvez Anandam, co-founder and CTO of HomePipe. "Instead of spending time and money uploading and managing files in the cloud, HomePipe creates instant remote access and sharing of digital content from anywhere, anytime from virtually any web browser or mobile device."

As reflected by the investment, the customer response and markets served by HomePipe represent a tremendous opportunity. Recently Apple surpassed 10 billion app downloads 1 with billions more expected for Apple, Android and BlackBerry®. In addition, Nielsen’s projects that by mid-2011, a smartphone user base of 150 million, 300 million mobile subscribers, 120 million mobile web users and 90 million users will be streaming video. Combine these figures with the average home storing nearly nine terabytes of content by 20132, and the opportunity for a secure digital content solution that easily enables consumers and professionals to access and share photos, documents, music and videos from a single view will be significant.

"The HomePipe service is unique. It elegantly solves a real problem that millions of us have today – how to easily and securely access and share our pictures, videos and documents across multiple devices anywhere, anytime without spending hours uploading to a cloud service or syncing and copying it all over the place," said Mark DiSalle, HomePipe lead investor and founder and chairman of Scout Analytics. "With the exponential growth of the mobile users and apps market, coupled with the growing need to store and share progressively larger digital files, HomePipe is positioned to experience dramatic growth in its business and we are excited to be investors."

HomePipe was recently named as a Top Global 500 App  an award covering all devices and formats, with forty different top app categories and expert reviews of the best 500 apps available around world. The HomePipe web application is available as a Free Edition that gives full access to the service, but limits the number of uses. HomePipe’s Premium Edition provides unlimited use for $23.99 annual subscription. The HomePipe mobile app takes seconds to install and is downloadable directly from the app store for Apple iPhone and iPad, Google Android and Windows Phone 7.

1 Report: 17.7 Billion App Downloads in 2011, Jefferson Graham, USA Today, January 27, 2011
(http://content.usatoday.com/communities/technologylive/post/2011/01/report-177-billion-app-downloads-in-2011/1)

2 Consumer Survey on Digital Storage in Consumer Electronics 2008, Tom Coughlin, Coughlin and Associates. (http://www.tomcoughlin.com/.../Consumer Survey on Digital Storage in Consumer Electronics.pdf)

About HomePipe Networks, Inc.

HomePipe Networks is the leading innovator in digital content sharing and access. The HomePipe platform revolutionizes the ability for consumers, professionals and organizations to quickly and easily enable secure sharing and access of today's digital content by combining local files, cloud files and digital media into a single immediately accessible and shareable view from any Internet or broadband connected device. Thousands of users on HomePipe have stopped managing content and started using it – all without storage limitations, complex software and hardware installations or additional fees. For more information, please visit us at http://www.tappin.com/ or follow us on Twitter at https://twitter.com/#!/Tapp_In.

HomePipe Networks and the HomePipe logo are trademarks of HomePipe Networks, Inc.