Communications - Tuesday, April 3, 2007
Saudi Prince Al Hussein Bin Talal Invests $32.5M In Free Directory Assistance Startup
Saudi Prince Al Hussein Bin Talal has invested in Toll Free Yellow Pages in the amount of $32.5M in funding and an additional $7.5M upon met milestones.
Toll Free Yellow Pages has not yet launched (" it is set to launch sometime in the second half of 2007 ") but says it will be offering a free alternative to 411 calls. To pay for for all of those free calls, the company has partnered with DiscountMore.com to deliver consumers comparison shopping over the phone.
The company and investors must be inspired by 1-800-Free-411 from Jingo which surprised everyone by ringing up 100M calls as of last November and now controls 6% of the U.S. market in 411 calls. TellMe and AT&T have also apparently jumped into this proven market winner.
Read - Toll Free Yellow Pages, Corp. Finalizes Negotiations with Private Overseas Investors for Investment Package Worth over $32.5 Million
Read - control 6% of the U.S. market in 411 calls
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