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Old 07-12-2005, 06:32 PM   #1
Alexander Turcic
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More money for Motricity

In a press release Motricity, the parent company behind eReader, PalmGear, and PocketGear, announced today that it received an additional USD $30 million in venture funding, the company's second such funding after having received USD $27 million in October last year. Quotes from the release:

"This funding will accelerate our rapid global expansion as we continue to establish strength in Europe, Asia and other regions where market demand for wireless data services is exploding," explained Ryan Wuerch, chairman and chief executive officer at Motricity. "Consumer demand for personalized content on mobile devices is creating significant opportunities for Motricity to support the growth being experienced by wireless carriers, content providers, media companies, portals and other partners in the mobile ecosystem."

"The mobile industry is seeing demand for consumer-specific mobile content grow at a significant pace, driven by the increasing availability of quality content and reliable services. This has given traditionally non-mobile brands cause to quickly adopt mobile strategies," said Keith Daubenspeck, chairman of Advanced Equities. "Advanced Equities believes that Motricity has the right technology, the right approach, the right relationships and the right management team to address this emerging market and achieve exponential growth in coming years."
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Old 07-12-2005, 10:05 PM   #2
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Maybe they can use some of that $30M to start paying the developers who host their applications on their portals, instead of screwing them for at least 40% of their net revenue and "forgetting" to pay out to those same developers for weeks at a time.

Maybe they can use some of that $30M to stop littering every page you click on with 50 banner advertisements.

Maybe they can use some of that $30M to make a proper, fast, usable website experience.

Nah, they'll just peter it away like they did with the last $27M, no-doubt.

But they won't be around for long... <wrings hands with glee at Secret Project #207>

The future looks VERY bright for mobile software and mobile developers, and that future does not include Motrocity, Handango, or PalmGear.
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