Myxer,
the company that radically simplifies mobile content delivery, today
announced its acceptance of $6.5 million in equity financing. The
investment was led by Harris Preston & Partners and included participation
from Morgenthau Venture Partners and existing investor New World Angels.
The announcement comes as Myxer unveils "Mobilized by Myxer(TM)" at the
DEMOfall '07 conference. DEMO has a long-established reputation for
identifying and presenting to an elite audience the products most likely to
have a significant impact on the marketplace and market trends in the
coming year. Mobilized by Myxer enables content owners to create and
deliver mobile content with drag and drop simplicity right from their
existing website. In addition to sending individual items to a mobile
phone, Mobilized by Myxer automatically creates a custom mobile download
storefront for the content owner.
Myxer will use the proceeds of the investment to further fuel its
recent traffic explosion, scale and enhance its mobile content delivery
platform and expand its world-class technical team. The company will also
be increasing its marketing, partnering, and advertising sales efforts to
accelerate its aggressive revenue and profitability targets. The investment
is confirmation of the company's growing influence and leadership in the
mobile industry, and signals investor confidence in the company's
aggressive revenue and profitability targets.
Going forward, Myxer's board of directors will be comprised of Scott
Kinnear, CEO and president; Myk Willis, founder and CTO; Ron Harris of
Harris Preston; and Jon Cole of New World Angels.
"Having successfully developed and launched Myxer, this new investment
enables us to continue our unprecedented growth and invest in building out
a team that can effectively take advantage of the vast opportunities in
front of us," said Scott Kinnear, president and CEO of Myxer. "We are also
very fortunate to add these key members to our board and advisory panel.
They bring a wealth of experience that complements the strengths of our
existing team very well."
"Myxer is one of the most exciting companies in the industry today, and
our investment clearly reflects their accomplishments to date and their
excellent prospects for the future," said Ron Harris, managing director of
Harris Preston & Partners LLC. "Myxer has all the right ingredients for
success: a great team, great products and a huge and fast growing market."
Myxer(TM)
Myxer simplifies the delivery of content to mobile devices. Whether
professional or user-generated, Myxer makes the process of delivering
ringtones, images, full-track audio, video and more to the mobile
marketplace incredibly quick and easy, regardless of the carrier or device
being targeted. Myxer's popular MyxerTones website is quickly growing to be
the most visited online destination for making and sharing mobile content,
with over 2.5 million users who are downloading more than 6 million pieces
of mobile content each month. The Myxer platform also offers partner API's
for easy integration with existing content websites interested in expanding
their reach to the mobile market.
Harris Preston & Partners LLC
Harris Preston & Partners (HPP) is an exclusive private equity firm
focused on corporate finance and buyout opportunities in companies with
significant upside potential or established mid-market companies with
leadership market positions. As experienced investors and operators, HPP
focuses on delivering value in the private equity market for investors,
private equity partners, and portfolio companies. HPP's approach is unique
and compelling for a select group of companies seeking the right partner
for maximum long-term value creation.
Source: Myxer
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