Mig33 Raises Funding from Gree
As announced on Nov. 1st. Mig33 scored another round of funding, near $9M, in part from Tokyo-based sns Gree http://bit.ly/cLgMqo
We had tweeted on this already.. 😎
See full story below via VentureBeat:
Indonesian telecom entrepreneur Pak Sugiono Wiyono Sugialam and Japan’s Gree led the round. Sugiono is a well-known regional entrepreneur with ties to telecom retailers with lots of outlets in Indonesia. Gree, meanwhile, is a mobile social game portal and game developer with a market value of $2.5 billion.
The company will use the money to expand its growth as a social entertainment service on mobile phones. Mig33 is making a big bet that such 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.
The company has more than 40 million registered users for its service, which started out as a way to make inexpensive voice-over-the-internet-protocol (VOIP) calls over cell phones. Now it has evolved into a social networking service where users chat with friends and send virtual gifts to each other or play games.