March 21st, 2007 by Arjan Olsder Posted in Companies & M&A | 1 Comment »
Ad funded mobile gaming company Cellufun announced to have received $ 3
million in funding from Longworth Venture Partners. The funding will
mainly be used to increase external marketing if the portal and further
increase their development line.
"The success of a social networking business model that offers free content has been demonstrated with many online communities and now Cellufun is proving how the same can be applied to the mobile internet,” said Steve Dacek, Cellufun’s COO and co-founder. “We enable people to play classically entertaining games with other people in real-time through their mobile phones. Our customers play games that are challenging and fun, but also provide social interaction.”
Nilanjana Bhowmik, a partner at Longworth Venture Partners, will join Cellufun’s board of directors. “Longworth conducted detailed research and analysis of the mobile social networking space and is convinced that Cellufun’s early success will make it a leader in this emerging market segment,” said Ms. Bhowmik. “We believe the company’s platform and model will enable it to become the leader in mobile social communities focused around fun and competition.”
Here at Longworth we’re excited to be working with the Cellufun team. We’ve posted some of our thoughts on this investment on our blog: http://www.longworthblog.com/