Thumbplay lands $15 Million
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Thumbplay Receives $15 Million
Why are founders Are Traasdahl and Evan Schwartz smiling?
They just raised $15 Million in their C round! We understand it to be a raise of $10 Million and a line of credit for $5 Million.
What is Thumbplay?
Thumbplay provides mobile entertainment content. The company aggregates, promotes and delivers mobile content directly to their members.
Bain Capital Ventures led the round, SoftBank Capital and i-Hatch Ventures also participated in the Thumbplay funding round, with the line of credit coming from Silicon Valley Bank.
Very cool consumer focused site where you can obtain from the website you can get ringtones, wallpapers and games.
Their business model is a monthly subscription based model in which they charge the end user via their cellular phone bill.
Recurring subscription payments of $10 via the cell phone, genius!
We have high hopes for this company. From reading other articles we understand there is a deal with Sony Pictures Home Entertainment and a distribution agreement with the Walt Disney Internet Group.
See their site here.
Read more about Are Traasdahl here.
Read more about Evan Schwartz here.
Read more about Bain Capital Ventures here.
Read more about Softbank Capital here.
Read more about i-Hatch Ventures here.
Read more about Silicon Valley Bank here.