Digital Startups Get Cash Infusions
> The mobile media startup will use the capital infusion to add new paid and user-generated content and seek out new acquisitions. In addition to SendMeMobile.com, the company also operates mobile sweepstakes site SoLow.com and community-oriented property mBuzzy.com.
Gizmoz has raised $6.5 million in financing, closing a Series B round led by DoCoMo Capital, a subsidiary of Japanese mobile giant DoCoMo, and ngi capital inc (a leading venture capital firm in Japan). Previous investors Benchmark Capital and Columbia Capital also participated in the round. Eyal Gever, CEO and founder of Gizmoz, has said that the company will use the funds to help expand growth of their platform into Asia.
The San Francisco-based user-generated media firm also announced a new partnership with AOL that will allow AOL Instant Messenger (AIM) users to personalize their chat windows with 3D, talking Gizmoz characters. Gizmoz' "social expression" applications also run across social networks like Facebook, AOL's Bebo and Hi5.
-- Tameka Kee and Mark Walsh