Tapioca Mobile Secures Seed Funding from Venrock
David Siminoff and Neeraj Choubey Join the Board of Directors
SAN DIEGO--(BUSINESS WIRE)--Tapioca Mobile announced today that it has closed its initial round of funding and added Venrock’s David Siminoff and Neeraj Choubey to its board of directors. Tapioca Mobile, which specializes in mobile rich multimedia messaging, will use the seed financing to accelerate product and customer development.
“Consumers are already swapping approximately one billion MMS messages through their phones in the US per quarter, giving media companies and advertisers a special opportunity to ride that wave.”
“The astounding rise in the use of mobile messaging rivals the adoption of the Internet a decade ago,” said David Siminoff, general partner, Venrock. “Tapioca stands at the intersection of mobile messaging and the power of rich media giving media companies and advertisers a tremendous opportunity to reach consumers and develop multimedia communities.”
Tapioca Mobile gives media companies and advertisers the ability to deliver video and rich media to consumers using the rapidly-growing Multimedia Messaging Service (MMS) mechanism available on mass-market mobile handsets. MMS enables multimedia files to be attached to text-based SMS messages, granting users the ability to send and receive videos, audios and images.
“For the first time ever, it is possible to ubiquitously reach consumers with rich multimedia for their mobile handsets,” said Sachin Deshpande, co-founder and CEO, Tapioca Mobile. “Consumers are already swapping approximately one billion MMS messages through their phones in the US per quarter, giving media companies and advertisers a special opportunity to ride that wave.”
With the initial seed investment, the company will add two new board members from Venrock, a premier venture capital firm established by the Rockefeller family, focused on investments in media, mobile and information technology, healthcare, and energy. David Siminoff is a general partner at Venrock who began his career in the media business prior to his entrepreneurial pursuits in technology. Before spending a decade at Capital Research, making early investments in Yahoo!, AOL, Amazon and eBay, Siminoff founded and later sold EastNet, a syndicate barter company, enabling television stations in Eastern Europe to trade American TV programs for advertising time from major brands. He also co-founded 4INFO and most recently, he served as chairman, president and CEO of Spark Networks. Neeraj Choubey serves as a vice president at Venrock. Prior to Venrock, Choubey worked with Yahoo!’s mobile division and began his professional career in the CDMA infrastructure division at Motorola.
About Tapioca Mobile
Tapioca Mobile gives content providers and media companies the ability to deliver video and rich media to consumers through their cell phones. Founded in 2007, the company is privately held and based in San Diego, California. The founders have previous experience from leading wireless companies including Qualcomm, Nokia, and Openwave. For more information visit www.tapiocamobile.com.