Tuesday, March 16, 2010

(TECH) Mobile Application Network Provider Snaptu Secures Funding From Sequoia Capital

"Mobile application network provider Snaptu, Formerly known as Moblica, has secured funding from leading global venture capital fund Sequoia Capital.

Snaptu is bringing popular social media, news, and sports sources like ESPN, Accuweather, Associated Newspapers, BBC, Reuters, Facebook, and Twitter, to more than 2,000 mobile devices via its unique mobile application infrastructure. The application works on virtually any phone and has been downloaded to over 4 million phones worldwide.

"We're excited by Snaptu's technology and vision and look forward to working with them to fulfill it," said Sequoia Capital partner Gili Raanan. "We see huge value for consumers and mobile operators in Snaptu's unique approach to bringing mobile applications to virtually any phone."

"With Snaptu, millions of people around the world can now use their existing phones to access their most popular Internet sites and enjoy a user experience comparable to the latest smartphones,” said Snaptu CEO Ran Makavy. “Sequoia supports our strategy of using the Snaptu application infrastructure to bring the full capability of the mobile web to virtually any phone, anywhere."

Snaptu offers online service providers, media companies and content owners a fast track into the world of mobile Internet. By enabling an easy and rapid deployment of any online service as a full-featured mobile application, in order to reach to every Internet-enabled mobile device.

Snaptu was founded in August 2007 by Lior Tal, the company VP Business Development. The company is headquartered in Tel Aviv, Israel, with offices in London, UK." (source)

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