Cellufun Secures $3 Million in First Round Funding from Longworth Venture Partners.Leading Mobile Gaming Social Network to Scale Marketing and Sales of Popular Community Portal NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Cellufun, a leading free-mobile gaming community A gaming community is usually a group of like minded individuals working towards a goal (such as promoting fair play and team work) or supporting each other within games (usually online video games such as MMORPG's or FPS's) RTS(real time strategy) games are developing larger provider, today announced that it had successfully completed $3 million in Series A funding from Longworth Venture Partners. Cellufun will use the financing to aggressively develop its product line, increase external marketing efforts, and support enhanced sales goals for one of the world's most popular multiplayer mobile gaming communities. "The success of a social networking See social networking site. social networking - social network business model that offers free content has been demonstrated with many online communities," said Cellufun COO and co-founder Steve Dacek, "and now Cellufun is proving how the same can be applied to the mobile internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. . We enable people to play classically entertaining games with other people in real-time through their mobile phones. Our customers play games that are challenging and fun, but also provide social interaction." Founded in 2005, Cellufun now has more than two million people visiting its site each month to download and play games. Traffic to the Cellufun mobile web (WAP (1) (Wireless Access Point) See access point. (2) (Wireless Application Protocol) A standard for providing cellular phones, pagers and other handheld devices with secure access to e-mail and text-based Web pages. ) site has grown to more than 15 million page views per month, tripling in the last three months. Cellufun offers its mobile consumers free multiplayer games See multiplayer gaming. that are downloadable world-wide via mobile phone WAP browsers. Nilanjana Bhowmik, a partner at Longworth Venture Partners, will join the company's board of directors. Ms. Bhowmik has helped new technology companies successfully navigate the financial landscape from start-up to global brand status and has a strong interest in wireless consumer applications, social-networking communities and other technology enterprises. "Longworth conducted detailed research and analysis of the mobile social networking space," said Ms. Bhowmik, "and we're convinced that Cellufun's early success will make it a leader in this emerging market segment," said Ms. Bhowmik. "We believe the company's platform and business model will make it the leader in mobile social communities focused around fun and competition." "We are excited to add Nilanjana's and Longworth Venture Partners' expertise in mobile applications and social networking to the Cellufun team," said Arthur Goikhman, Cellufun's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This investment is important not only to Cellufun but also to our clients. We can now focus on developing new, exciting and free entertainment for the world's most ubiquitous gaming platform." Games like Chess, Sudoku and "mobile pets" are playable in real-time in competition with other members of the Cellufun gaming community. The service is applicable for existing and next-generation web-enabled mobile phones. Using WAP banner ads A graphic image used on Web sites to advertise a product or service. Banner ads come in numerous sizes, but are often rectangles 460 pixels wide by 60 pixels high. Also 460 x 55 and 392 x 72 sizes are commonly used. , in-game ads and product placement, the games are sponsored by leading brands and advertisers. About Cellufun, Inc Cellufun is an ad sponsored mobile gaming portal providing free entertainment content and casual connected and multiplayer games for existing and next-generation web-enabled mobile phones. For more information, visit cellufun.com. About Longworth Venture Partners Longworth Venture Partners (www.longworth.com) is a Boston-based venture capital firm that invests in early-stage software, internet, wireless, and media companies. For over twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. , the Longworth team has founded, built, and led investments in some of the most innovative and successful technology companies. The firm combines a proven track record of entrepreneurial and operating success with top venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so performance to support entrepreneurs in building the next generation of technology leaders. |
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