According to a report from the Triangle Business Journal, Motricity is set on raising an additional $175 million in financing in order to buy InfoSpace's mobile business. InfoSpace posted $30.8 million in second quarter mobile revenues with a net loss of $3.6 million from the mobile unit. If Motricity does indeed raise an additional $175 million, the company will have nearly doubled its venture financing efforts to date: So far, Motricity has raised more than $200 million in VC. Motricity's most recent acquisition was of Goldpocket Wireless [1], a mobile marketing and content delivery firm.
For more on the rumored deal:
- read this report [2] from Tech Journal South
Related Articles:
InfoSpace can't get no respect Article [3]
InfoSpace media head resigns Article [4]
Carrier ditches InfoSpace to go direct-to-consumer Article [5]
Twistbox buys InfoSpace's Atlas Mobile unit Article [6]
Links:
[1] http://www.fiercedeveloper.com/story/motricity-acquires-goldpocket-wireless/2006-07-18
[2] http://www.techjournalsouth.com/news/article.html?item_id=3893
[3] http://www.fiercewireless.com/story/have-some-respect-for-infospace/2006-01-26
[4] http://www.fiercemobilecontent.com/story/infospace-mobile-media-head-davis-resigns/2006-12-22
[5] http://www.fiercewireless.com/story/infospace-loses-partner-for-label-licensing/2006-09-21
[6] http://www.fiercemobilecontent.com/story/twistbox-acquires-atlas-mobile-from-infospace/2007-01-25