Mobile ad platform Blyk, has secured a 17 million euro investment lead by Nexit Ventures and other individual investors. Launched in 2006, the Finnish firm began as an ad-funded mobile network targeted at youngsters, later pivoted to focusing on the mobile advertising platform as a business of its own. The investment helps Blyk to further […]
Mobile ad platform Blyk, has secured a 17 million euro investment lead by Nexit Ventures and other individual investors. Launched in 2006, the Finnish firm began as an ad-funded mobile network targeted at youngsters, later pivoted to focusing on the mobile advertising platform as a business of its own.
The investment helps Blyk to further accelerate its growth in partnering with mobile operators world wide to help them further capitalise on their customers. Blyk sends exclusive offers to those that opt in to its service, via SMS and MMS. It claims to attract 25% response rates in the markets it operates in.
14/09/2010
”Blyk has proven its engagement model and added value to advertisers in a relatively short period of time. With the new operator partnering model and the fresh investment, Blyk will further strengthen its position as the front- runner in the fast-growing mobile advertising field,” comments Artturi Tarjanne, General Partner of Nexit Ventures. Tarjanne continues: “We looked at literally dozens of potential investments in this space and found that Blyk was clearly the best positioned company and an attractive investment perfectly aligned with our mobile focus.”
Tore Teir, the CFO of Blyk, comments: “This new investment round further solidifies the financial position of Blyk and will enable us to accelerate our successful operator partnership model and roll out the service with leading brands in new market areas. In today’s digital world generating engagement and response is a key requirement in capturing the global marketing dollars of the big brands.”
Currently, Blyk is negotiating with many additional partnerships to their agreements with Orange in the UK and Vodafone in the Netherlands. The first commercial launch of the new partnerships will be in India.
