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October 30, 2006

ThumbPlay Gets More Funny Money

posted by MR WAVETHEORY at 10/30/2006 01:17:00 PM
Thumbplay just reported another $15 million in venture capital for building out its direct to consumer mobile content business. This is a very tough space considering the success or lack thereof that Verisign Inc. (Nasdaq VRSN) has recently had - Verisign sold their Jamba stake to NewsCorp for little more than they paid for. I am just as surprised as anyone else that Thumbplay was able to get more money.

Thumbplay Inc., www.thumbplay.com, the leading online retailer of mobile entertainment content, today announced it has secured $15 million in new capital through a $10 million Series C round led by Bain Capital Ventures and a $5 million line of credit with SVB Silicon Valley Bank. Existing Thumbplay investors, SoftBank Capital and i-Hatch Ventures, also participated in the Series C round. Additionally, Bain Capital Ventures managing director, Ajay Agarwal, will join Thumbplay’s board of directors.

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