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Update: RIM-Thomson Reuters To Launch $150 Million Mobile App Fund; BlackBerry Bold Debuts

By Dianne See Morrison - Mon 12 May 2008 03:22 AM PST

If Apple (NSDQ: AAPL) can do it, then so can we. Just a few weeks after Apple announced its $100 million iFund dedicated to applications for the iPhone and iPod touch platforms, RIM (NSDQ: RIMM) said today that along with media giant Thomson Reuters (NASDAQ: TRIN) it was planning to launch a $150 million venture capital fund that would invest in mobile applications and services for the BlackBerry platform and other mobile platforms. Canadian VC firms JLA Ventures and RBC Venture Partners will co-manage the fund. Unlike Apple, RIM said its fund would be open to all mobile platforms, not just for the BlackBerry. In a sign that it wanted to break away from its business roots, it also said it would consider both consumer and corporate applications.

RIM also announced the release of its so-called iPhone killer, the BlackBerry Bold. While the triband smartphone is aimed at corporate users and supports HSDPA networks, it also includes many consumer-type multimedia features, GPS and WiFi built in. It also has a 2 megapixel camera that can record video, while its media player can play movies as well as display pictures and manage music. AT&T (NYSE: T), the iPhone’s exclusive US carrier, will carry BlackBerry Bold. (Release)

Update: Based today’s news, RIM’s shares rose to a new all-time high today, jumping $9.20, or 6.9 percent, to $141.97. Earlier in the day, the shares traded as high as $143.08, AP reported.

Posted in: Companies, Operators, Cingular-AT&T, Gadgets, Money, VC M&A, Venture Capital

Tags: thomson reuters, research in motion, blackberry

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

Rafat Ali
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Staci D. Kramer
Co-Editor

Tricia Duryee
Principal Correspondent

Dianne See Morrison
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James Quintana Pearce
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Robert Andrews
U.K. Editor

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