Gas Station TV, the start-up that put TVs on gas pumps, has received an investment valued at $50 million from Wayne, a General Electric subsidiary.
The downtown Birmingham-based start-up launched five years ago by putting TVs broadcasting commercials and news bulletins on gas station pumps. Wayne’s investment will fund the deployment of the inOvationTC media platform on these TVs and in gas stations across the U.S. It will nearly triple Gas Station TV’s monthly viewership, taking it to more than 70 million.
“It’s going to enable us to grow really fast as a media network,” says David Leider, CEO of Gas Station TV.
The company has hired 17 people over the last year, bringing its staff to 61 employees, a handful of independent contractors and a few summer interns. The company plans to add another 40 employees over the next year.
“They’ll be a combination of sales, tech and marketing jobs,” Leider says.
Source: David Leider, CEO of Gas Station TV
Writer: Jon Zemke
Read more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.