Motorola, Inc. (http://finance.yahoo.com/q?s=MOT), through its global, strategic equity investment arm Motorola Ventures, announced a strategic investment in TuneWiki Ltd. (http://www.tunewiki.com/), the British Virgin Islands-incorporated provider of next generation social media music players and related applications. Motorola as leading investor was joined by new investors Intellect Capital Ventures, which is a venture fund initiative of the leading Nordic Telecommunications operator TeliaSonera, as well as HillsVen Capital, LLC and Novel TMT. TuneWiki’s previous venture capital investor, Benchmark Israel, also took part.
TuneWiki plans to use the investment to expand and enhance its product offerings for developing Internet and mobile platforms. The company will take advantage of platform capabilities and new features found in recently released smartphones, – including stronger CPUs, always-connected capabilities, larger displays and high-resolution screens.
Rani Cohen, CEO of TuneWiki, has commented on the investment, saying: “Teaming up with a global company like Motorola is very exciting for us, … we are passionate about connecting people through music, and having our applications running in many countries with different languages will allow our users to explore the world of music and better understand its meaning as part of a vibrant and engaged community.”
Motorola Ventures focuses on “new-idea” companies and opportunities that complement the business strategy of Motorola, the company known around the world for innovation in communications and focused on advancing the way the world connects. TuneWiki, incorporated under the law of the British Virgin Islands, is an internationally award-winning social media music player. The company was founded in 2007 and has offices in LA, California, Bellbrook, Ohio, and Tel Aviv, Israel.
Motorola, Inc., through its global, strategic equity investment arm Motorola Ventures, announced a strategic investment in TuneWiki Ltd., the British Virgin Islands-incorporated provider of next generation social media music players and related applications. Motorola as leading investor was joined by new investors Intellect Capital Ventures, which is a venture fund initiative of the leading Nordic Telecommunications operator TeliaSonera, as well as HillsVen Capital, LLC and Novel TMT. TuneWiki’s previous venture capital investor, Benchmark Israel, also took part.
TuneWiki plans to use the investment to expand and enhance its product offerings for developing Internet and mobile platforms. The company will take advantage of platform capabilities and new features found in recently released smartphones, – including stronger CPUs, always-connected capabilities, larger displays and high-resolution screens.
Rani Cohen, CEO of TuneWiki, has commented on the investment, saying: “Teaming up with a global company like Motorola is very exciting for us, … we are passionate about connecting people through music, and having our applications running in many countries with different languages will allow our users to explore the world of music and better understand its meaning as part of a vibrant and engaged community.”
Motorola Ventures focuses on “new-idea” companies and opportunities that complement the business strategy of Motorola, the company known around the world for innovation in communications and focused on advancing the way the world connects. TuneWiki, incorporated under the law of the British Virgin Islands, is an internationally award-winning social media music player. The company was founded in 2007 and has offices in LA, California, Bellbrook, Ohio, and Tel Aviv, Israel.