Mobile Commerce Company Raises $50 Million

Deem, a San Francisco mobile commerce company, raised $50 million from China-based private equity fund Hony Capital. The company led by CEO Patrick Gradysaid it will use the funds to accelerate its network growth, expand globally and make acquisitions. Deem also announced earlier this week that it completed its recapitalization financing but didn't say how much money was involved.

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Tags: mcommerce
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