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Boston, MA (Business Wire) 23 September 2010
company is already profitable, adds strategic capital to build the groundbreaking social games platform
Boston – 23 September 2010 – MocoSpace, the largest social entertainment destination on the mobile Web, announced today a $ 3,500,000 round of strategic funding from SoftBank Capital. MocoSpace will use the funds to its mobile browser-based social gaming offerings and management team to expand. Previous investors include General Catalyst MocoSpace, Pilot Group and prominent angel investor Michael Dearing.
MocoSpace is the largest entertainment destination in the mobile Internet, with over 14 million users and three billion page views per month. The company, which is already profitable would like to use with this round of financing for the development of their games MocoSpace platform. The platform will offer to get game developers with a robust environment and mobile Web via text browser, and access to MocoSpace public – the games already played a million times on the site per month. MocoSpace is launching its own browser-based mobile social game, and is currently developing partnerships with mobile web game developers on a broad range of game titles offer on its platform.
Vikrant Gandhi of Frost & Sullivan followed MocoSpace growth over the years, and describes the company’s success: “MocoSpace has a rare ability to build a great mobile Internet brand and make a profit by relying on a broad basis demonstrated by consumers. The mobile browser is the next frontier of competitive games, and companies like MocoSpace have a great opportunity to lead this emerging market. “
As part of the investment is SoftBank Capital Managing Partner, Ron Fisher joined the Company’s Board of Directors. As the founder of Softbank Capital, has Fisher over 30 years experience working with high growth and turnaround technology companies, and serves as a member of the Board of Directors of Softbank Corp., Japan, and on the boards of several public and private companies including Desktone, E * Trade Group, GSI Commerce, FooMojo, LiteScape Technologies, Nellymoser, Inc.
MocoSpace is unique to solid growth at the junction of the powerful trends in mobile, gaming and social well positioned in response to one of the fastest growing segments of the U.S. population, the Hispanic market, “said Fisher. “Softbank is thrilled to be an investor. MocoSpace has done a great job building an industry-leading, profitable business and we look forward to helping the company to expand its entertainment offerings and innovations in the social space games.”
“The opportunity to work with Ron and Softbank team was a breeze for you. They have a tremendous amount of know-how, both here and abroad in all important parts of our business,” says CEO and co-founder Justin MocoSpace Siegel. “I look forward to working together in the coming years as we expand our business. Continue”
About MocoSpace
For a young, multicultural, on-the-go generation is connected MocoSpace the destination of choice for making friends, fun and staying power. MocoSpace has generated over 14 million registered users over 3 billion pages per month, making it the largest social entertainment destination on the phone to find. MocoSpace is free and available to any Web-enabled mobile phone in the world.
2005 launched MocoSpace is supported by General Catalyst and Softbank Capital, is in Boston MA. For more information about the company is available www.jnjmobile.com
About SoftBank Capital
SoftBank Capital is an independent venture capital company at an early stage company addressing pervasive social computing focused. The company addresses to provide opportunities, socially-driven content, services and applications across platforms and devices. SoftBank Capital offers entrepreneurs and their management teams valuable experience and resources, including our close cooperation with Softbank Corp. in Japan. SoftBank Capital has offices in Newton Centre, MA, New York City and Buffalo, NY. For more information, visit www.softbank.com.
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MocoSpace: http://www.twitter.com/mocospace
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