Cellfish Raises $10M in Additional Funding
New York-based mobile entertainment company Cellfish announced today that it has received $10 million in funding from the Solidarity Fund QFL, which brings its total funding to a staggering $60 million, one of the biggest single funding rounds ever for a mobile entertainment company.
The funds will be used for the usual rapid global scaling, but Cellfish CEO Fabrice Sergent also hinted at a summer product launch that is still being kept under wraps.
"Cellfish... will be expanding its services and partnerships with a major product launch set for the summer of 2007," Segent said in a statement.
Cellfish announced its initial $50 million funding in October 2006. That round was led by Telecom Media Fund and Trio Capital. Under the terms of the agreement the investors were given approximately 30% of the company, giving it a market cap of over $150 million at the time.
Although full fiscal results have not been reported, Cellfish claims $116 million in revenue for the calendar year 2005. The company's business is led by the hip-hop-infused BlingTones and BlingGames lines.