Barry Diller‘s IAC-backed service, Aereo, will expand its current business to twelve new markets in several upcoming weeks. Aereo sends broadcast TV signals online to subscribers in New York, Boston and Atlanta, with the hopes of adding 18 additional cities to its base.
According to the company’s CEO Chet Kanojia, the service strives to reach a quarter of the U.S. population in the next five to seven years. In three months, Aereo will be available to 20 cities. “We have a very patient investor base,” Kanojia said at the recent Fortune Brainstorm Tech conference in Aspen.