mocoNews.net - Unhealthily Obsessed with Mobile Content

Current Story

SendMe Mobile Raises $15 Million in Funding

By Tricia Duryee - Mon 17 Mar 2008 09:00 PM PST

SendMe Mobile, an off-deck provider that sells ringtones and wallpapers and hosts mobile sweepstakes, plans to announce today that it has secured $15 million in a third round of capital. New investor GrandBanks Capital participated along side existing investors True Ventures and Spark Capital. SendMe has now raised $25 million in total, and has about 45 employees.

The San Francisco-based company said it will use the financing to market its three brands—SendMeMobile.com, SoLow.com and mBuzzy.com. In the past year, the three-year-old company acquired off-portal community mbuzzy.com, and launched the mobile sweepstakes site SoLow.com. SendMe also has partnered with an impressive list of content companies, including Corbis, EMI Music, Glu (NSDQ: GLUU), Telcogames, Gameloft (EPA: GFT), Sony (NYSE: SNE) Pictures and others. 

Posted in: Entertainment, Money, VC M&A, Venture Capital, Social Media

Tags: sendme mobile, grandbanks capital, true ventures, spark capital,

Check our our new Social Media Deals Report, which examines the categories, number and size of VC and M&A deals into social media

Related Research from Alacrastore.com
4 Comments
Share/E-mail

4 Responses:
  • From Andrew Deal Tue 18 Mar 2008 08:11 AM

    Honestly, i don’t get why they would need this much money. If they truly have a marketable product the public is willing to buy, or advertisers are willing to support, they should only need 2-3M and operate on cash-flow.

    Is there an inverse relationship between demonstrable revenues and funding? It would seem so, and that investors will get to see quite a long period of burn before return.

  • From mocorocker Tue 18 Mar 2008 08:45 AM

    I don’t know what is the surprise. Thumbplay has raised close to $50M and is yet to show a profit. Motricity never did either and...well, I lost count at $250M raised.

    Not that either makes sense but I am just not shocked by crazy VC money anymore.

    MR

  • From someone else Tue 18 Mar 2008 09:04 AM

    Lets not forget 3guppies ~ 20 million burned

  • From Andrew Deal Sat 05 Apr 2008 11:07 PM

    Yeah.. and it seems moconews is pretty much obsessed with cataloging the score on the playground as a top priority.

    Accessibility and consumer value is not on their radar.

Post Your Comment

Mobile Options

» Mobile App
» Mobile/WAP Site

RSS

paidContent.org feed mocoNews.net feed paidContent.co.uk feed contentSutra.com feed

View all feeds »

Channels

Send a News Tip

About

mocoNews.net is a news site covering the business of mobile content.

Rafat Ali
Publisher & Co-Editor

Staci D. Kramer
Co-Editor

Tricia Duryee
Principal Correspondent

Dianne See Morrison
Contributing Writer

James Quintana Pearce
Contributing Writer

Robert Andrews
U.K. Editor

EconCeleb Conference - The Economics of Celebrity. July 23 at the Roosevelt Hotel in Hollywood

Featured Report - 2008 Social Media Deals Report

front page of report

The economics of social media continue to heat up, with ever more buzz created in new and growing market categories. This report examines the categories, number and size of investment and acquisitions into social media and the resulting value created from 2007 through 2008. Order your report today to analyze deals made by Yahoo, Disney, Google, AOL, CBS, Hearst, Microsoft and many more.

Learn more or purchase now.

New Media/Interactive Job Listings

Post Job
More Jobs

Generous Supporters

ContentNext Headlines

mocoNews.net

mocoNews.net

mocoNews.net

This work is licensed under a CreativeCommons License.
Copyright ContentNext Media Inc. 2002—2008