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Amp'd Mobile Closes $150 Million in Third-Round Financing
Next-Generation Mobile Entertainment Company
Launches This Month with Largest Venture Capital Raised This Year
LOS ANGELES, CA
April 13, 2006
In the wake of CTIA Wireless 2006 where it heralded a series of “firsts”
in the mobile entertainment industry, Amp’d Mobile has closed
a third round of funding totaling appx. $150 million, pushing the
company’s initial capitalization past the $250 million mark,
it was announced today by chief executive officer Peter Adderton.
The round featured participation from several new investors including
Tudor Investments, Intel, Rho Capital Partners, Qualcomm, Quilvest
Capital France, Polygon and Heights to form the largest venture capital
deal thus far in 2006.
“We are thrilled to receive enthusiastic support from leading
technology companies such as Intel and Qualcomm, as well as such
highly respected global investment entities as Tudor, Heights, Polygon,
Quilvest and Rho,” stated Adderton. “This is a significant
milestone that will allow us to quickly ramp up Amp’d Mobile
and fulfill our goal of delivering a completely unique, broadband
wireless experience.”
All previous investors, which include MTV, Universal Music Group,
Highland Capital Partners, Columbia Capital and Redpoint Ventures
also participated in the round. The first fully integrated mobile
entertainment company, Amp’d Mobile launched earlier this
year with the mission to bring the next-generation broadband wireless
services and applications to 18-35 year-olds with unprecedented
content offerings. Merrill Lynch acted as exclusive placement agent
and financial advisor to Ampd in connection with this round of financing.
About Amp’d Mobile
Amp’d Mobile is the first integrated mobile entertainment
company for youth, young professionals and early adopters. By leveraging
the power of broadband wireless (EVDO), Amp’d will offer traditional
services such as voice and text within a completely fresh user interface
designed specifically for the “mobile graduate” and
third-generation (3G) technology. With a myriad of customizable
options to meet each person’s individual needs, Amp’d
will bring a more relevant, personal experience to the wireless
lifestyle with unique music, video, community, entertainment, sports
and gaming offerings divided into various channels for quick and
easy access. Launching nationwide at the end of the year, more information
can be found at www.ampdmobile.com.
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