Snaptu Reaches 10 Million Users, Announces $6M Series B Funding
- Created on Tuesday, 22 June 2010 00:00
Funding Led by Carmel Ventures, With Participation by Sequoia Capital
Snaptu, the breakthrough mobile service that brings a smartphone-like experience to any phone, announced today it has reached 10 million users.
The company also announced today it has secured $6M funding in B round lead by Carmel Ventures, one of Israel’s premier venture capital firms. Rina Shainski, General Partner of Carmel Ventures will join the Snaptu board. Sequoia Capital, which led the previous round, also participated in this round of funding.
Snaptu has changed the way people with regular phones use the mobile web by bringing an easy to use, fast and powerful service that combines the most popular social networking services, news, sports, weather and web tools together in one environment.
"Reaching the 10 million mark shows the appetite from people with regular phones to have the same experiences and access to services that the relatively few people with the top-end phones enjoy. This is a very exciting time for us as we continue to roll out simple to use, high quality services that are accessible by everyone. We are delighted to have Carmel Ventures recognize the value of our vision and to join Sequoia Capital as stakeholders in our business," said Ran Makavy, Snaptu CEO.
"Snaptu is addressing the under-served large majority of mobile users world-wide by proving that a superior user experience is possible on any data-capable mobile device," said Rina Shainski, a General Partner at Carmel Ventures. "Snaptu has experienced exponential viral growth since it launched. By bringing high quality, simple to use services to all mobile users, Snaptu is changing the face of the mobile web and we are delighted to back them in this mission."
Snaptu changes the way the world uses the mobile web, bringing millions of people online via their mobile phone for the first time. It is focused on bringing useful, intuitive mobile services to the 95% of mobile users who do not have advanced smartphones.
Best known for its breakthrough mobile app, also called Snaptu, the company has a unique mobile platform that delivers fast, fun and effective services that work on virtually every mobile phone.
Snaptu was established in 2007 and has millions of users all over the world. It is backed by Sequoia Capital and Carmel Ventures. For more information please visit www.snaptu.com.