Amobee Media Systems closes investment transaction with Telefonica and announces strategic relationship for mobile advertising
San Francisco, London and Madrid – November 28th 2007 – Amobee Media Systems, the world leader in advertising solutions for mobile operators, today announced that Telefonica has made a strategic minority investment in Amobee. Telefonica joins Sequoia Capital, Accel Partners, Globespan and Vodafone in funding Amobee’s next stage of development.
Amobee Media Systems was founded in May of 2005, with the objective of enabling all players in the mobile content and data value chain to generate new revenues from advertising. Its software solution supports digital ad delivery to all mobile content and communication types, including WAP and mobile web, mobile games, mobile video, and mobile messaging.
The Amobee management team, comprised of a strong core of executives with a combination of wireless, advertising, and interactive media experience, have produced a best-of-breed solution, tailor-made for mobile operators The advertising impressions from the Amobee platform occur in a relevant, contextual and non-intrusive manner, thus giving the users control over the engagement.
“We have evaluated a large number of competing platforms for serving ads in the mobile environment. We have chosen to invest in, and partner with, Amobee because we have concluded that it offers the best solution to ad-fund our growing number of mobile data services, while ensuring that our customers get better value as well as a richer mobile experience” stated Russ Shaw, Director of Innovation at Telefonica. “ We also believe that Amobee’s carrier centric model will generate the highest quality mobile advertising inventory, thus ensuring that advertisers are given a compelling proposition."
"Amobee is quickly becoming a standard for operators to serve contextual, dynamic and relevant ads to their customers” said Zohar Levkovitz, CEO and Co- Founder of Amobee Media Systems. “In less than a year, we have made significant advances and have now generated mobile advertising revenues for tier one operators in several major markets around the world. With Telefonica’s investment, Amobee is set to strengthen its position as the world's premier provider of mobile ad-serving solutions”.
Mobile advertising represents an unprecedented potential to increase reach for advertisers. According to Pyramid Research, by 2010 one billion new mobile subscribers will join the current base of 2.8 billion. Further, according to Informa, worldwide mobile advertising revenues will rise to $11.35 billion by 2011.
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
Haim Sadger
SEQUOIA CAPITAL
haim@sequoiacap.com
