Ann: Acquisition of mig33 social entertainment pl, page-14

re: Ann: Acquisition of mig33 social entertai... http://venturebeat.com/2010/11/08/social-mobile-platform-mig33-raises-8-9m-from-japans-gree-and-indonesian-entrepreneur/

Mobile social networking service Mig33 has raised $8.9 million in a third round of funding.

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Yes, that's most interesting, Firsttothetable. And it evidently came on top of $34m previously raised since mig33's launch in 2005.

So these guys have spent more than $40m getting this enterprise to where it is today.

Backers include Accel Partners, Redpoint Ventures, DCM as well as the aforementioned Indonesian telecom entrepreneur Pak Sugiono Wiyono Sugialam, and Japanese mobile social game portal & game developer, Gree (market value $2.5 billion).

So no small bikkies!

And now a backdoor listing ...very cheaply and quietly through LAT ...onto the Australian bourse.

Mig33 already claims to be "...one of the largest social platforms in the world..." with "...millions of users in over 200 countries, playing in tens of thousands of chatrooms, posting millions of miniBlogs, sending hundreds of thousands of virtual gifts every day." (http://www.mig33.com/about)

Which sounds pretty exciting.

It'd be good to see the numbers on all that. If you wade through the online references already cited on this thread (& a few more that follow), you certainly get a feeling for the scope and evolution of the company over its 8 or 9 years.

Seems to currently have about 70 million registered users worldwide. Which ain't too shabby!

Most of those originate from Indonesia, South Africa, Nepal and India, apparently ..."mobile-first" markets.

I like the focus on those markets. Places where old-world, fixed-line infrastructure will probably never have to be built, where users are buying mobile phones as their primary computing devices.

Places that represent HUGE and largely untapped potential social media markets.

"...Mig33 is making a big bet that social entertainment services will be popular not only on smartphones such as the iPhone, but also on old-fashioned feature phones that are selling by the tens of millions in Asia, Africa, Eastern Europe and other developing regions.." (Indonesian telecom entrepreneur, Sugiono)


LAT certainly worth putting on the watchlist, in my view.



http://venturebeat.com/2010/11/08/social-mobile-platform-mig33-raises-8-9m-from-japans-gree-and-indonesian-entrepreneur/

http://venturebeat.com/2011/07/20/mobile-social-network-mig33-launches-game-developer-platform/

http://venturebeat.com/2012/01/17/mig33-launches-twitter-like-miniblog-for-emerging-mobile-markets/

http://www.thejakartapost.com/news/2012/06/28/mig33-capitalizing-users-outside-mainstream.html

Source: http://www.techinasia.com/mig33-rebrands-microblogging/

http://sbr.com.sg/information-technology/more-news/mig33-unveils-300-character-miniblog-site

http://www.techinasia.com/miniblog-mig33-180000-daily-active-users/