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Oxygen executives say that money will greatly increase the company's chances of reaching profitability.
Mr. Miller said the charitable efforts had improved the company's prospects for reaching profitability next year.
The typical Silicon Valley start-up endures several rounds of venture financing before reaching profitability, and no longer needing additional outside money.
For example, PaineWebber ran newspaper ads in mid-March that warned against embracing companies "with no earnings and no well-defined path to ever reaching profitability".
He said large but loss-making CAT - which is yet to give a target date for reaching profitability - was ineligible for either of these benefits.
Because the company remains unprofitable it lost $45 million in the most recent quarter and may have a hard time reaching profitability without new products and services.
Similar(18)
Salvador's has begun to reach profitability and forecasts a modest net profit in three years.
Also by year two the business will reach profitability and have achieved a healthy profit before taxes.
Vitrue is "nearly profitable" and was projected to reach profitability in this fiscal year, said our source.
The Water Factory will reach profitability by month 12 and will have modest, but steady, profits by year three.
Sierra Leone was MCI's fastest network to reach profitability.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com