Wireless - Monday, February 26, 2007
Carl Icahn Puts $50M Into Motricity
Investor Carl Icahn has put in $50Min equity funding to Motricity. Motricity sells the plumbing necessary for cell phone users to download music and games. It lists what seems like most of the major media companies as clients and has been buying up rival.s In August of last year, Motricity raised $32M in Series G. That round was led by Advanced Equities with return backers including Intel Capital, Wakefield Group, New Enterprise Associates, Noro-Moseley Partners, Technology Crossover Ventures, and Qualcomm. Motricity has raised around $180M in total VC funding since its 2001 inception by our count.
In March of last year, Motricity says it would be slightly profitable with annual revenue of about $380M. A 2007 IPO for Motricity is anticipated.
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Ask.com Picks Up Dictionary.com After It Was Jilted By Answers.com
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