Got Funds? SoftBank Injects $3.5 Million Into MocoSpace
ADOTAS – Even thought the mobile social network is already profitable and didn’t necessarily need more funding, MocoSpace shrugged and said OK when Zynga investor SoftBank Capital handed them $3.5 million in funding.
With more than 14 million users and 3 billion page view a month, MocoSpace claims it is the largest entertainment destination of the mobile Internet. The funding will be used to bolster development of the Games platform; according to the company, MocoSpace users already play a million games a month through the network.
“The chance to work with [Managing Partner Ron Fisher] and the Softbank team was a no-brainer for us,” said MocoSpace CEO and cofounder Justin Siegel. “They have a tremendous amount of expertise both here and abroad in all the key parts of our business.”
Fisher will be bringing his 30 years of experience with tech operations, including E*Trade, to the MocoSpace board of directors.
Back in June, MocoSpace VP of Marketing Casey Jones (you better watch your speed) shared findings from the company’s mobile social graph that showed while Android-enabled traffic was growing rapidly on its network, users about to upgrade preferred iOS devices by a margin of 2:1.
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