MobiMate Announces Completion of Financing Round led by Motorola Ventures
Investment to Accelerate Expansion of WorldMate Live Service
LOD, Israel – November 19, 2007 – MobiMate Ltd, a leading provider of travel services for mobile devices, announced today the completion of a round of financing led by Motorola Ventures, the strategic venture capital arm of Motorola, Inc. (NYSE:MOT). Motorola, Inc. joins MobiMate's current investor group which includes John Sculley, former CEO of Apple Computer; serial entrepreneur Richard Rosenblatt, investment banker Michael Price of Evercore Partners, Michael Targoff, CEO of Loral Space & Communications and several other prominent industry veterans.
MobiMate’s WorldMate Live is a mobile travel service that supports travelers by providing information and transaction capabilities on their mobile devices and PCs. The service includes a web 2.0 travel planning site and a mobile application to provide real-time, on-the-road travel support. With the ability to import travel booking information from third party travel providers, WorldMate allows for a simplified and seamless travel experience for users on-the-go.
“We believe MobiMate's context-based travel services have enormous potential to transform the mobile consumer’s experiences and connect people to critical content anytime, anywhere,” said Mony Hassid, managing director, Motorola Ventures in Israel. "The company's WorldMate Live ushers in the next wave of mobile travel services and seamlessly delivers vital information the consumer wants and needs.”
"We are pleased to add Motorola to our growing list of strategic partners in the mobile space,” stated Nadav Gur, MobiMate's chief executive officer. "This investment will provide additional resources which will be instrumental in increasing the company’s market presence and R&D efforts."
About Motorola
Motorola is known around the world for innovation and leadership in wireless and broadband communications. Inspired by our vision of seamless mobility, the people of Motorola are committed to helping you connect simply and seamlessly to the people, information, and entertainment that you want and need. We do this by designing and delivering "must have" products, "must do" experiences and powerful networks -- along with a full complement of support services. A Fortune 100 company with global presence and impact, Motorola had sales of US $42.8 billion in 2006. For more information about our company, our people and our innovations, please visit http://www.Motorola.com.
About MobiMate
MobiMate Ltd. is the leading provider of mobile travel-related services. Its best-selling WorldMate service offers an easy-to-use application that automatically delivers valuable content and services to users’ cell phones, turning their mobile devices into a personal travel assistant. Removing stress and paperwork from the travel experience while saving time and money, it puts the traveler’s itinerary alongside flight status updates, flight schedules, weather, forecasts and currency information in subscribers’ hands in real-time. More information is available at http://www.wmlive.com.
LOD, Israel – November 19, 2007 – MobiMate Ltd, a leading provider of travel services for mobile devices, announced today the completion of a round of financing led by Motorola Ventures, the strategic venture capital arm of Motorola, Inc. (NYSE:MOT). Motorola, Inc. joins MobiMate's current investor group which includes John Sculley, former CEO of Apple Computer; serial entrepreneur Richard Rosenblatt, investment banker Michael Price of Evercore Partners, Michael Targoff, CEO of Loral Space & Communications and several other prominent industry veterans.
MobiMate’s WorldMate Live is a mobile travel service that supports travelers by providing information and transaction capabilities on their mobile devices and PCs. The service includes a web 2.0 travel planning site and a mobile application to provide real-time, on-the-road travel support. With the ability to import travel booking information from third party travel providers, WorldMate allows for a simplified and seamless travel experience for users on-the-go.
“We believe MobiMate's context-based travel services have enormous potential to transform the mobile consumer’s experiences and connect people to critical content anytime, anywhere,” said Mony Hassid, managing director, Motorola Ventures in Israel. "The company's WorldMate Live ushers in the next wave of mobile travel services and seamlessly delivers vital information the consumer wants and needs.”
"We are pleased to add Motorola to our growing list of strategic partners in the mobile space,” stated Nadav Gur, MobiMate's chief executive officer. "This investment will provide additional resources which will be instrumental in increasing the company’s market presence and R&D efforts."
About Motorola
Motorola is known around the world for innovation and leadership in wireless and broadband communications. Inspired by our vision of seamless mobility, the people of Motorola are committed to helping you connect simply and seamlessly to the people, information, and entertainment that you want and need. We do this by designing and delivering "must have" products, "must do" experiences and powerful networks -- along with a full complement of support services. A Fortune 100 company with global presence and impact, Motorola had sales of US $42.8 billion in 2006. For more information about our company, our people and our innovations, please visit http://www.Motorola.com.
About MobiMate
MobiMate Ltd. is the leading provider of mobile travel-related services. Its best-selling WorldMate service offers an easy-to-use application that automatically delivers valuable content and services to users’ cell phones, turning their mobile devices into a personal travel assistant. Removing stress and paperwork from the travel experience while saving time and money, it puts the traveler’s itinerary alongside flight status updates, flight schedules, weather, forecasts and currency information in subscribers’ hands in real-time. More information is available at http://www.wmlive.com.
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