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  • Paymo Secures $5 Million in Seed Financing

    Micropayments company Paymo has secured $5 million in seed financing, "provided by prominent angel investors in the United States and Europe". Paymo connects online merchants with mobile phones, letting payments be made to the phone bill—it touts the ability for online merchants to reach any consumer with a mobile phone in any country. The funding will be used to accelerate product development and marketing ( release ). Related EU Banks, Carriers Team Up On Mobile Payments Still A Long Wait For Mobile Contactless Payments Mobile Coupon Firm Cellfire Gets $12 Million Funding Our mobile application for Blackberry and other Smartphones brings you the latest headlines when you're on the go. Go here to download .
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  • Sovereign Wealth To Acquire CellCard From EAccounts

    Newport Beach, Calif.-based Sovereign Wealth, which invests in mobile marketing companies, said it has agreed to acquire CellCard from eAccounts in an all-stock transaction, MarketWatch reports . CellCard enables retailers to send advertisements to customers using SMS or MMS and then let's those customers buy an item by replying to the SMS from their mobile phone, which is linked to a credit card or debit card. No terms of the deal were disclosed. ContentNext's EconCeleb Seminar examines what drives the economics of celebrity content. July 23, 2008 at the Roosevelt Hotel, Hollywood. Learn more .
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  • Canadian Mobile Movie Listings Site MyMovies.ca Sold To RepeatSeat

    An interesting acquisition north of our borders: Calgary, Canada-based mobile ticketing solutions company RepeatSeat has bought the mobile movie search engine MyMovies.ca from Don't Shoot the Messenger , an Ontario-based company that launched the service in 2000. MyMovies.ca lists movie info for more than 400 theatre locations and 2,400 screens across Canada. RepeatSeat will integrate the new service into its own mobile ticketing solutions, allowing users to "take the next logical step and purchase a ticket to the movie they searched." Our mobile application for Blackberry and other Smartphones brings you the latest headlines when you're on the go. Go here to download .
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  • France's Hi-Media Buys Mobile Marketing Firm Mobile Trend For Euro 7 Million

    France-based European online media firm Hi-Media has now extended its reach in mobile markets and has bought out local mobile market firm Mobile Trend . The deals includes a total consideration of 7 million euros, paid in cash, with two earn-outs to come depending on the company's profitability in 2008 and 2009. In 2007, Mobile Trend posted sales of 4.1 million euros and an operating profit of 0.9 million euros, and it expects strong business growth in 2008. The company transaction valuation multiples should be between 8 to 9 times MT's operating profit for the current financial year, it said. Mobile Trend was founded in 2003, is a French specialist in mobile Internet marketing and in micropayments by SMS. The two companies had been working together for the last four years, and with this deal, MT's contribution enables Allopass, Hi-Media's micro-payment business, to firm up its business in the SMS segment. More details on the deal here . Earlier this year Hi-Media bought US-based online photo sharing site Fotolog.
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  • Indian Mobile Services Company Tanla Acquires $15.8 Million Stake In Finnish Openbit

    Tanla , an Indian provider of mobile services, said it acquired an 85 percent stake in Openbit , a Finland-based mobile payment software company for $15.8 million in cash, reports IDG via NetworkWorld . The remaining 15 percent of the company, currently held by Openbit's management, will be purchased in two stages over the next two years. Tanla currently uses Openbit's products and services in the U.K., Ireland, Dubai, and Singapore, and expects the acquisition to give the company access to Openbit's relationships with device makers and mobile operators. In addition, by integrating Openbit's technology into its own services platform, the company will be able to expand past mobile entertainment, mobile marketing and advertising and interactive TV into the mobile payments market. Release.
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  • Obopay Inc Secures $20 Million From Essar, Qualcomm, Promethean India And Others

    Indo-U.S. mobile payment company Obopay Inc has secured a $20 million in a fourth round of investment led by India's Essar Communications Holdings , and included Alliance Bernstein, ONSET Ventures, Redpoint Ventures, Richmond Management, Citi, Societe Generale, Qualcomm ( NSDQ: QCOM ) and Promethian India. Obopay has also named K.B. Rajendran, SVP Essar Global and Robert G Hottensen Jr, SVP (Public Equity) at Olayan America Corporation as new members of its board of directors. There had been reports last year of Promethean Investing $5 million in Obopay India, but there's no confirmation of whether that happened. [via release and GigaOm ] Obopay had raised around $48 million in its first three rounds; James Pearce, at mocoNews mentions that Obopay wants to become the Western Union/PayPal of the mobile world, and in order to do that it had to get 41 licenses to become a registered money transfer agent just in the US. I think the involvement of Indian companies in this round is significant, particularly for Obopay's operations in India: The Essar group is a shareholder in Vodafone ( NYSE: VOD ) India (earlier Hutch-Essar), and also is reportedly behind Loop Telecom. Essar is also in the mobile retail business - in partnership with Virgin, they've launched The Mobile Store in India.
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  • Mobile Payment Service Obopay Raises $20 Million; Total At $68 Million

    Mobile payment company Obopay has raised $20 million in its fourth round of funding, reports GigaOM . The round isn't finished and the final amount may go higher—so far the only investor details given are "CEO Carol Realini ... and other Obopay executives contributed to the round by wiring their investments to the company coffers by way of their Obopay accounts on their mobile phones." Obopay has previously raised $48 million. That's a lot of dosh, but Obopay wants to become the Western Union/PayPal of the mobile world, and in order to do that it had to get 41 licenses to become a registered money transfer agent just in the US—and it wants to expand internationally to grab a slice of the money sent between countries. It's currently in the US and India, and lets people send money even if the recipient doesn't have Obopay. Related Mobile Payments Firm Obopay Gets a Big $29 Million In Third Round Obopay India To Close $10 Million In Funding Verizon To Announce Deal With Obopay
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  • SK Telecom And Citigroup Launch Mobile Banking JV

    South Korean mobile operator SK Telecom ( NYSE: SKM ) and Citigroup, the US's largest bank, launched a joint venture today to offer mobile financial services in select markets in Asia and North America, reports Reuters . The two have invested $8 million into a joint venture, Mobile Money Ventures, that will give Citi customers banking services—including near field communication-based payments, stock management and advertisements--on their mobiles starting in the second half of 2008. According to the Korea Times , SK Telecom will develop the software and hardware for the venture, which it says is not an exclusive deal with Citi, and plan to sell the platform to other banks and carriers in the future. It will test out mobile banking first, then mobile payments and electronic coupon services. In South Korea, SK Telecom already offers a chip-based payment service called Moneta, where consumers can swipe their mobile phones at payment points at participating shops and restaurants, as well as buses and subways.
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  • Mobile Coupon Firm Cellfire Gets $12 Million Funding

    CellFire , the San Jose, CA.-based mobile coupon firm, has raised $12 million in its third-round funding. The round was led by Silver Creek Ventures, and was joined by return backers Menlo Ventures and Storm Ventures. Proceeds will be used to expand the company's sales and marketing efforts, along with increasing product functionality, business development and partnership activities, it said. Cellfire, founded in 2005, did a deal a year later with Conde Nast to sell subscriptions to its magazines via mobile. The company says it has distributed more than eight million coupons worth more than $24 million in discounts. Stores accepting Cellfire coupons include Hardee's, Hollywood Video, Papa John's and Taco Bueno. More in release . Related Conde Nast Offers Magazine Subcriptions Via Mobile Coupon Mobile Coupons Firm Cellfire Raises $10 Million in Second Round
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  • Mobile Retail Ad And Couponing Firm Modiv Media Gets $8 Million Funding

    Modiv Media , a Boston-area based mobile retail couponing and advertising firm, has received $8 million in its first round of funding, according to a regulatory filing, picked up by PEHub . Investors in the round include Ignition Partners, Oak Investment Partners and SeaPoint Ventures. The company launched My Subway Mobile, a program that uses Modiv Media's technology to drive participating mobile users to the sandwich shops....the campaign is running at more than 500 Subway franchises.
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