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, a mobile marketing and content delivery firm.
For more on the rumored deal:
- read this report from Tech Journal South