Options Media Raises $2.4 MM

Email service provider Options Media Group has sold nearly all of a class B series of shares to raise $2.4 million, helping wipe out almost all of its debt, the company said.

The funds will assist in paying off costs associated with a recent acquisition aimed at swiftly bolstering its offerings in mobile marketing. Mass text-messaging capabilities and a technology delivering ads to Bluetooth-enabled devices came as part of the December purchase of assets from H20 PM.

Publicly traded Options Media works with clients such as the NFL's Tampa Bay Buccaneers, Gerber Foods and Wendy's. The company was recently retained by Wendy's for a campaign to send coupons directly to mobile devices that are immediately redeemable at the counters of certain locations in the Northeast.

Options Media, based in Boca Raton, Fla. with some 60 employees, posted revenues of $6.2 million for the first nine months of 2009 and a loss of $3.9 million. Revenues were up from $950,000 during the same period in 2008.

Options Media has said the newly acquired Bluetooth technology allows advertisers to distribute text messages, coupons and ringtones directly to consumers in specific geographies. BrightSmile is a client that has signed to use the capabilities to send targeted messages to customers within 300 feet of one of its locations.

Among other capabilities, the H20 deal also brought technology giving an opportunity to use text messaging to facilitate direct purchases using debit or credit cards.

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