Motricity completes acquisition of InfoSpace Mobile and lands USD 185 million funding
Rating: good golly
Now, the likes of Medio and JumpTap have won funding for over 30 or 22 million. But good grief, USD 185 million. I feel like flinging my Tennis racquet across the court and screaming “you cannot be serious”.
But this proves that Motricity is out to make its mark in the mobile search space. At first I thought that the InfoSpace buy might be one new arm of the business but now – I am convinced that the Motricity wants a much larger slice of the mobile search pie. Mobile is where it is at driving the investment in search and community at this point will only serve as an asset.
Related News:
- InfoSpace to sell mobile services business for USD 135 million to Motricity
- RUMOUR: Motricity to buy InfoSpace Mobile Unit?
- Motricity InfoSpace part 2
- CTIA: Brendan Benzing Vice President Search and Advertising Infospace or now Motricity Mobile Search
- Chat with Supratim Biswas Vice President Products and Technology Motricity (ex-Infospace)
2 Responses to “Motricity completes acquisition of InfoSpace Mobile and lands USD 185 million funding”
The additional funding of $185 million is primarly needed to finance the actual acquisition costs of Infospace, namely $ 135 million dollars.
Comment made on January 2nd, 2008 at 11:54 pmThanks Abbas. I’ll put my Tennis balls away now! bena
Comment made on January 3rd, 2008 at 6:07 amLeave a Comment