Menlo Park, Calif.-based Fliptrack, which makes slide show widgets for MySpace, Facebook and other social networks, plans to announce today that it is renaming the company Moblyng and will focus on creating content for mobile phones going forward. The company also announced today that it received $5.7 million in funding from Mohr Davidow Ventures and Deep Fork Capital. The mobile service allows social network users to take the content they have uploaded to their social network profile and convert it so it’s viewable on mobile phones. The hang-up today is that often times those social-network widgets use Adobe’s (NSDQ: ADBE) Flash, which many cellphones don’t support. Moblyng will convert everything from YouTube videos to Slide and RockYou slide shows in formats cellphones understand, primarily photos and videos. This enables users to then text message to a friend a slideshow, which he or she can then download on their phone and watch. “We had this technology, where we could turn a layered flash widget with sparkles into a video—it became clear to us that we can take these self-expression widgets to the phone, whether Flash worked on phones or not. While everyone is still trying to figure out if Flash is going to be on phones, we thought we could leverage media formats that are already there,” said Stewart Putney, Molyng’s founder and CEO.

The service is pretty slick. If you go to the company’s Web site, a user can plug in their MySpace URL, and it will mobilize the entire page. That will enable users to send text messages and allow the content to be viewable on the phone. Putney said users typically only want to do something once—if they upload it to MySpace, they won’t want to also do the same steps for mobile, unless it’s easy. For Moblyng, Putney said a social-network based business was difficult to monetize because often times the network regulated the widget. With mobile, Moblyng will be able to insert text ads in the SMS messages and banner ads in the WAP pages, where people go in order to download the content. “From a monetization standpoint, there’s more opportunity there,” he said.