Cellfish Receives Additional $10M, Raising First-Round Financing to $60M
Leading Mobile Entertainment Provider Cellfish Media Receives Additional Funding of $10M, Raising First-Round Financing to $60M
NEW YORK, NY, April 5, 2007 — Cellfish Media has announced additional funding of $10M (USD) from the Solidarity Fund QFL, which takes its total round of funding to $60M since November 2006. The total ranks as the largest funding round to date of any mobile entertainment company in North America.
Fabrice Sergent, CEO of Cellfish Media, explained: “This round of financing, now totaling $60M, will be used to accelerate our consumer offerings as we look to provide mobile entertainment to consumers in new ways beyond traditional distribution models. Cellfish Media is already a major provider of original mobile content but will be expanding its services and partnerships, with a major product launch set for the summer of 2007.”
Cellfish Media, a pioneer and leader in original mobile content creation and distribution in Europe and North America, announced in October 2006 that it had partnered with several North American investors to address the high potential of the U.S. mobile entertainment market and become the most recognizable brand in this fast growing sector. Its products and solutions have already established Cellfish Media as one of the top five mobile content providers in France, North America and Germany in terms of revenue.
“We are proud to invest directly in companies such as Cellfish Media that have successfully penetrated high-potential markets and have generated over nine-figure revenue performance annually since 2005,” stated Jacques Bernier, Solidarity Fund QFL’s Senior Vice-President, Information Technologies, Telecommunications and Industrial Innovations.
Cellfish Media is preparing for several major announcements in the upcoming months.
About Cellfish Media
Cellfish Media is partially owned by Lagardere SCA, one of the largest media groups in the world; by Desjardins Venture Capital; Solidarity Fund QFL; and the Telecom Media Fund, formed by Trio Capital and Caisse de depot du Quebec. Cellfish Media creates and publishes original brands, such as Barrio Mobile, BlingGames and the widely acclaimed BlingTones, the world’s first wireless record label. It also distributes third-party content for mobile phones, including ringtones, wallpapers, videos, animations, games and applications, partnering with today’s biggest names in entertainment. Cellfish Media benefits from best-of-breed, proprietary platforms to deliver content to more than 350 million consumers through its direct-to-consumer channels, as well as through partnerships with major wireless carriers, media companies and brands. The company’s operations are headquartered in New York City, with offices in France and Germany, bringing together a team of 320 skilled professionals focused on enriching the mobile consumer experience. Learn more by visiting www.cellfishmedia.com.
About Solidarity Fund QFL
With assets of over $6.8 billion, the Solidarity Fund QFL is a development capital fund that through its RRSP channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and contribute to Quebec’s economic development. The organization is a partner, either directly or through its network members, in 1,681 companies. The Fund currently has close to 570,000 shareholders and has helped, on its own or with other financial partners, create, maintain and support over 116,000 jobs. For more information, visit www.fondsftq.com.