Expanding our mobile content horizons
Late on Friday we closed our third financing in the wireless content space.
Wmode Inc. develops and operates “ClearMode”, a Mobile Content Distribution Network that facilitates the management, control, delivery and payment of wireless Internet media. The Company offers a suite of technologies and services on a managed service basis that enable mobile operators, content providers and media and brand companies to deliver a broad range of wireless Internet content and services to their consumers. Wmode also takes on the role of procuring content and negotiating with content partners on behalf of wireless carriers.
Wmode currently has direct access to approximately 10 million mobile subscribers via its relationships with various carriers and MVNOs. Orange, Rogers, Telus and Videotron are all customers, and Teleglobe is a key supporter overseas. Based in Calgary, it also has a European sales and support office in Bern, Switzerland; 70 staff in total.
The $6MM is dedicated for acquisitions and building new customers in Europe, the Middle East, Asia and Latin America. Thanks to Mike Middleton of Q1 Capital Partners…he hooked us up with the Wmode team and helped make the transaction a pleasure to do.
Note to our VC friends: Wmode’s current sole sponsor is a corporation, so get yourself out to Calgary to see the team.