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News and Information Article
The Leading Provider of Text Messaging Solutions to Broadcasters Will Use
Funding to Accelerate Development
SAN DIEGO, June 13 // -- mSnap, Inc., a leading provider of
programming tools and text messaging services for the radio industry, today
announced that it has closed a venture round with Partech International, a
leading Silicon Valley venture capital firm that invests in entrepreneurial
teams throughout the information technology market spectrum.
"Partech is a logical investor for us, and we are thrilled to be
working with them. Their participation validates mSnaps leading role in
text messaging for broadcasters and the prospects for our continued success
and future growth," said Martin Kristiseter, founder and CEO of mSnap, Inc.
"We have received a very warm welcome by the radio industry, and were
currently working with almost two hundred leading radio stations across the
country. This investment will help accelerate our progress so we can bring
our vision to market much more quickly."
The funding will be used to accelerate the development process of
mSnaps affiliate network, product suite, as well as to expand overall
marketing and business development efforts. Early funding for mSnap was
provided by Josh Kopelman and Howard Morgans First Round Capital in
December 2005.
"mSnap is poised to continue its leading role in mobile marketing for
broadcasters with a strong founding team, a dominant market footprint and
innovative technology," said Vincent Worms, co-founder and managing partner
of Partech International. "We are excited to contribute to mSnaps growth
and look forward to helping the company realize its full potential."
About mSnap, Inc.
mSnap delivers a free programming tool for radio stations to boost
ratings and revenues via text messaging and mobile content. mSnaps Radio
Platform allows stations to launch sweepstakes, trivia contests, votes,
chat, clubs, and much more on the fly or in advance. Through its national
ad-network, mSnap maximizes station revenues by channeling advertisers to
its affiliates. mSnaps programming support department is exceptional with
its extensive radio experience and assists in daily programming ideas and
campaign creations. For more information, visit: http://www.msnapinc.com.
About Partech International
Founded in 1982, Partech International is a leading global venture
capital firm with $850M under management and offices in the U.S., Europe
and Israel. Partech invests exclusively in Information Technology and the
firms internationally integrated team of investing partners work together
closely to find the most innovative companies demonstrating high return
potential and disruptive technologies in the Software & Internet,
Communications & Components and Healthcare IT sectors. Partech has a unique
20+ year track record assisting its portfolio companies to become global
market leaders. To learn more, visit http://www.partechvc.com.
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