Mangrove Capital Partners, MIH Group and Holtzbrinck Ventures Participate
in the Financing
ROTTERDAM, The Netherlands, June 19 /CNW/ - Nimbuzz, an innovative
company aiming to change the face of mobile communications, today announced an
investment of $10 million into the company. Mangrove Capital Partners, MIH
Group and Holtzbrinck Ventures have all participated in the financing.
Founded in 2006, Nimbuzz provides the tools to connect the 2.2 billion
global users of mobile devices with the 1.1 billion global Internet users in
real time and for free. The application supports multi-directional voice,
presence and messaging between mobile devices and PC's.
"The funding represents a vote of confidence for our vision and our
technology. By combining our early backers, Mangrove Capital Partners and two
of the largest media companies in the world, we now have the means and the
distribution network to make Nimbuzz a truly global company," said Evert Jaap
Lugt, co-founder and CEO of the Nimbuzz.
"Distribution is one of the key challenges for mobile applications and we
believe that MIH, a leading media company in emerging countries, and
Holtzbrinck, shareholders in StudiVZ in Germany, are game changers for
Nimbuzz," said Mark Tluszcz, Managing Partner of Mangrove Capital Partners.
The service is available on more than 500 different types of phones in
over 35 different countries. "It is precisely this coverage as well as the
intuitive nature of the applications which drew us to Nimbuzz. We anticipate
that millions of users around the world will benefit from this ground breaking
product," said Charles Searle, Chief Investment Officer at MIH Internet
About Mangrove Capital Partners
Mangrove Capital Partners provides venture capital with a punch to
entrepreneurs looking to build world class companies. We look to invest in
companies operating Internet or Software businesses as early as possible in
their development. We are particularly comfortable investing prior to product
launch and view our role as an accelerator of growth and a partner for the
journey to success. We expect to be alongside the company at all phases of
this journey and encourage entrepreneurs to fulfill their vision, without any
Mangrove Capital Partners has been the first institutional investor to
invest in many of the following portfolio companies: Skype (www.skype.com),
Securewave (www.securewave.com), Dialcom Networks (www.dialcom.com), Piczo
(www.piczo.com), Quintura (www.quintura.com), Properazzi (www.properazzi.com),
Brickfish (www.brickfish.com), and Jambaz (www.jambaz.com).
MIH is a wholly owned subsidiary of Naspers. Naspers is a multinational
media company with principal operations in electronic media (including
pay-television, internet and instant-messaging subscriber platforms and the
provision of related technologies) and print media (including the publishing,
distribution and printing of magazines, newspapers and books, and the
provision of private education services). Naspers' most significant operations
are located in South Africa, where it generates most of its revenues, with
other operations located elsewhere in Sub-Saharan Africa, Brazil, Russia,
India, China, Greece, Cyprus, the Netherlands, the United States and Thailand.
Naspers creates media content, builds brand names around it, and manages the
platforms distributing the content. Naspers delivers its content in a variety
of forms and through a variety of channels, including television platforms,
internet services, newspapers, magazines and books.
About Holtzbrinck Ventures
Since 1998, Holtzbrinck Ventures has funded startup companies with
venture capital and, having invested in over 35 companies to date, is one the
largest early stage investors focusing on the new media sector in Germany.
We invest in media oriented business models employing digital
technologies (Internet, mobile, communication, broadband). As an experienced
early stage investor, we are a partner to companies even at very early stages.
Having built up many companies, either independently or in collaboration with
entrepreneurs or joint venture partners, we have a significant amount of
expertise, regarding both setting up a company and accelerating its growth.
We provide added value through active supervision and long-term support
for the investment, as well as by using the established brands and media
services developed by Holtzbrinck Publishing Group.
If you'd like more information about this topic, or to schedule an
interview with Evert Jaap Lugt, please e-mail at firstname.lastname@example.org.
For further information:
For further information: Evert Jaap Lugt, CEO, Telephone:
+31-10-2355888, E-mail: email@example.com