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| IceBreaker Secures $7.2 Million in Funding for Mobile Social Networking Platform |
First service, “Bigcafe,” yields 150,000 customers in first four months, Lightspeed Venture Partners, Frazier Technology Ventures to fund further expansion
BELLEVUE, Wash IceBreaker, Inc., a pioneer in mobile social software, announced today that the company secured $7.2 million in financing co-led by Frazier Technology Ventures, a leading Pacific Northwest venture firm with highly relevant entrepreneurial and mobile operating experience, and existing investor Lightspeed Venture Partners, one of Silicon Valley's leading early stage venture firms. IceBreaker will use the funds to drive consumer marketing, new product development and expansion of its Beijing research and development office. Bigcafe™ is the premier mobile social networking application from IceBreaker that provides an easy way to flirt, chat and meet real people with similar interests in their area - from their cell phone or PC. "It's a pleasure to reinvest in IceBreaker," said Jake Seid, General Partner of Lightspeed Venture Partners. "Since the last round of funding, the company successfully brought Bigcafe to market proving that there's pent up demand for connecting people through the world's most ubiquitous device." With a growing and active member base, Bigcafe reached 20 million monthly page views and more than 150,000 registered mobile members 120 days after launch. Nearly 100 percent of members visit the service through their cell phones, with members using the service on average of 2x per week. "It's thrilling to see Bigcafe being adopted so quickly as a mobile offering on some of North America's leading carrier and operator decks," said Michael Robinson, CEO of IceBreaker, Inc. "With an average of 20 minutes per session, Bigcafe drives data usage and revenue for our partners, and builds a stable fast growing community for members." About Bigcafe™ About IceBreaker, Inc. About Lightspeed Venture Partners About Frazier Technology Ventures |
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Download Press Release (IceBreaker Funding Release 6.5.07.pdf)
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