Vodafone and Telefonica Invest in Mobile Ad Firm, Amobee

6:05 am on November 29, 2007 | Category: Business, Corporate, Internet, Web Services, Wireless

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Rival European telecom firms, Vodafone and Telefonica, have each purchased a “small minority stake” in Amobee Media Systems, a San Francisco-based company offering mobile advertising services to carriers.

Founded in 2005, Amobee helps wireless network operators embed digital advertisements in numerous media applications including mobile Web, and WAP, as well as mobile games, messaging, and video services. The American company is hoping to ride a wave of increasing mobile advertising revenues, which analysts expect will rise to $11.35 billion by 2011.

“Amobee is a cutting-edge technology startup company and this is an industry we want to be part of from the ground up,” said a spokesman with Spanish telephone and wireless carrier, Telefonica.

UK-based wireless giant, Vodafone Group, commented that it is already using Amobee’s services to sell mobile advertising in Greece, Spain, and the Czech Republic.

Financial details of the Telefonica and Vodafone investments were not released. Amobee’s other financial backers include Accel Partners, Sequoia Captial and Globespan Capital.

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