Sign of the Times

Japan’s #2 SNS platform – Gree – IPO’d on Mothers stock-exchange last week and saw it’s shares jump 52% on listing day to a valuation of just over $1.2B, closing ahead of Mixi and gliding into 4th place for all digital-focused listed companies in Japan. While claiming approx. 7M users, only half of the Mixi base, Gree is almost entirely a mobile play. Serving as defacto SNS platform for the KDDI/au network, who was an early stage investor, the service offering combines gaming and messaging with a virtual goods model. According to company financials they reported $11M in profit on revenues of $33M in their last fiscal year while noting marked increases in Q1 FYE09. Crisis.. What Crisis?!?

While the Finnish giant is ramping-up to roll it’s Vertu-focused MVNO sometime early next year, the company has announced it has decided to pull their regular device line-up, including the just announced E-71 model for DoCoMo, according to this statement: “In the current global economic climate, we have concluded that the continuation of our investment in Japan-specific product variants is no longer sustainable.” By most estimates the world-leading ODM managed less than 1% penetration in the hyper-competative Japanese handset market.

Finnish cell phone manufacturer Nokia will start its own cellphone service in Japan as early as February 2009 according to this article on the Yomiuri Shimbun. Apparently the Finnish manufacturing giant is rumored to run service on the Docomo network, although it was widely reported this summer they would go with SoftBank, for it’s luxury Vertu handset lineup.

NEC and Bubble Motion have announced the formation of a global partnership agreement. Under the terms, NEC will exclusively provide the BubbleTALK service to telecom operators in the Japanese market. BubbleTALK enables users to send short voice messages – basically voice sms – directly to the receiver’s handset. NEC and Bubble Motion will collaborate to provide the underlying products, functionality and related services, while NEC provides deployment and technical support for operators in Japan. Additionally, the companies are aiming to offer BubbleTALK to telecom operators worldwide and create synergies between BubbleTALK and NEC’s NGN products, such as NC series and IP Messaging.

AdMob, which recently became cash-flow positive, just landed a new round of funding from Sequoia Capital and Accel Partners. The San Mateo, Calif., company raised $15.7 million in Series C funding. The company plans to use the money to hire staffers in key markets in Western Europe, India, South Africa and Japan, improve the technology that powers its mobile advertising marketplace and grow its sales and business development teams.