Mobmerry to deploy 1000 Beacons in Bangalore making 100 feet road and Indiranagar the first Shopping District in India to be IoT enabled. It sends advertisements of retail stores straight to consumer’s phones, thereby driving potential consumers to the store through target marketing using geo-location.
Mobile value added services company MobMe shelved plans to go public at the small and medium enterprises exchange. Instead, the company raised about $3 mn from angel investors.
Kerala based value added services provider MobMe has received an approval from the national stock exchange to raise $4.5 mn through an initial public offering at the SME exchange.
The company will offer 705,600 equity shares of face value of Rs. 10. The Price band has not been fixed yet
MobME’s decision to raise funding from the SME exchange is an interesting one. Maybe it will start a new trend with startups looking to raise money from the public market and skipping the usual Venture Capital route?
Kerala based startup, Mobme (read their inspiring story) has partnered with Malayalam Daily, Mathrubhumi and is powering its Mobile Channel for sending news and aler
ts to mobile users over SMS.
Within a day of the launch, MobMe witnessed an awesome 44,00 registrations – to keep the numbers in context, we are talking about local Continue reading
MobMe is an interesting startup for several reasons – right from the products they offer, to partnership route this Trivandrum based startup has taken, to most importantly, the background of the company.
The company was started by 3 guys (Sony Joy, Sanjay and Kenny) when they were in 7th semester of engg. college (kenny is 2 years senior).
What’s really amazing is that they were able to successfully raise funds ($250,000 while in 7th semester & another $250,000 just after graduation) and the second time fund was raised at 10X valuation!!
MobMe currently offers three products:
Besides person-to-person money transfer, Chillr currently supports recharging of prepaid mobile, DTH and data cards. By end of March 2016, Chillr aims to tie up with 30,000 merchants and on-board 15 banks. Currently, the team size is 70 and the company plans to bring this number up to 150 by year end.
If you missed out on any of the action on NEXTBIGWHAT last week, go through our weekly recap below.
Out of 220 companies that went public in the United States last year, only a handful were tech companies. In India, where only a handful of companies went public and only 1 of them was tech related.
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