Thumbplay sells ringtones, videos, games and graphic for your cellular phone and claims to have over 43,000 downloadable items.
Using a credit-based system, Thumbplay keeps transactions simple. For example, all ringtones are simply one credit. The company also offers the option of monthly memberships that allocate credits to users every month and offer special deals.
Entertainment content on cellular phones is big business. Last year, Vringo raised $12 million to expand its cellular music video operation (our coverage).
The $18 million E round is coming in from a number of investors including Softbank Capital in Newton Center, MA, i-Hatch Ventures in New York, NY and Verizon Investments in Wilmington, DE.
Thumplay is based out of New York, NY.
Reprinted with permission from VentureBeat. Story copyright 2008 VentureBeat Inc. All rights reserved.
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Thumbplay announced on Monday, March 17th that it had closed an $18M Series E round of funding to accelerate growth, expand its direct-to-consumer product offerings and to expand internationally. The investors are Brookside Capital Partners, the public equity affiliate of Bain Capital, and Cross Creek Capital, a private equity affiliate of Wasatch Advisors.
Please update this post to reflect the correct list of investors in this round.
See http://www.thumbplay.com/news for full details.
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