London-based mobile marketing platform provider Velti (VEL), which recently bought Ad Infuse, estimates that it's Jan - June revenue has grown 50% to about $30mil on "strong demand" for it's technology, according to Reuters. The company, founded in 2000, has contracts with big mobile operators like Vodafone, Orange France & Telefonica Mexico and a bunch of blue-chip brands like Microsoft, Mastercard, Nestle, Disney, Colgate-Palmolive and Bacardi. Velti claims its platform can currently reach up to 2bil people in 35 countries (hmm...but how many people have actually ever seen a Velti message?). While ostensibly encouraging, what's totally unclear from this statement is whether there's any organic growth going on here, or whether gains are solely attributable to the Ad Infuse acquisition. I guess we will see when the real numbers are released in the next few weeks.
btw -- there's been a lot of speculation about how much Velti paid for San Francisco-based Ad Infuse...but the fact that the company is now disclosing that it's borrowed $14mil from investors to fund the purchase (and other activities) should help give us a clue...again, all should be revealed with official 1st half results.
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velti is certainly an interesting company. negroponte is apparently an angel investor so that speaks to the credibility of the founding team. they somehow seem to have kept very low profile for what they actually do with operators in several countries. growing 50% organically is certainly creditable...if its all organic.
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