$15 Million Dollar Strategic investment by Fidelity Ventures will fuel growth of the mobile marketing leader
CHICAGO – Vibes Media today announced that it has secured a large strategic investment from Fidelity Ventures in a Series A funding round. Vibes, a technology-enabled mobile marketing company, will utilize this private equity investment to help the company grow through acquisitions, further advance its research and development of new products and continue to forge a path of leadership and innovation in this important emerging market.
“We are thrilled to be partnering with Fidelity Ventures,” said Alex Campbell, Vibes Co-Founder and CEO. “Fidelity understands the marketing and technology aspects of our business. We see them as a long term partner, helping accelerate our growth at a time when we believe the market is ready to expand and start living up to its true potential.”
Vibes, a 10-year-old, privately owned company based in Chicago is a pioneer in the mobile marketing space. The company has executed more than 50,000 mobile marketing programs throughout the U.S. and expects strong growth in their business. Vibes is a leading player in the U.S. mobile applications market, an industry that – according to a recent eMarketer forecast- will reach more than $19 billion globally by 2012.
“Mobile devices have emerged as a highly targetable and interactive marketing channel for consumer products and services,” said Dave Power, Partner at Fidelity Ventures. “As a mobile marketing pioneer, we believe that Vibes Media has the track record and expertise and platform strength to emerge as the category leader.”
“We are one of very few profitable companies within the mobile space and feel the time is right to expand more aggressively and drive the industry forward,” added Jack Philbin, Vibes Co-Founder and President.
In connection with the financing, Dave Power, a partner at Fidelity Ventures will serve on Vibes’ Board of Directors. Vibes also recently announced the appointment of a new chief financial officer, Charley Cassell who in his previous role as CFO of Chicago-based internet company FeedBurner, played a pivotal role in the company’s growth and subsequent acquisition by Google. Cassell also held several senior positions at leading internet companies including Yahoo!, eGroups and Learning Insights.
About Vibes Media
Vibes has been on the forefront of the mobile marketing industry since 1998. After launching the first mobile campaign in the U.S., the company has gained a reputation for developing innovative client solutions that include the first product for the radio industry, the first Text-2-Win program, the first Text-2-Screen event and the first Text Adventure game. Recently recognized by Inc. Magazine as one of the top 100 fastest growing U.S. companies for 2007, Vibes continues to change the industry landscape with an unconventional approach to mobile marketing. The company’s unique blend of technology, strategic planning and creativity helps clients identify the right time, location and mobile tactic necessary to optimize audience interaction and generate a greater ROI. For more information, please visit www.vibes.com.
About Fidelity Ventures
Fidelity Ventures invests in companies ready to enter the market and those poised for the next phase of growth. Its 40-year track record includes hundreds of successful investments in the consumer, communications, systems and software markets. Fidelity Ventures is distinguished by the ability to accelerate market adoption for its portfolio companies’ offerings, and by a global network of senior technology and business executives. Fidelity Ventures actively manages over $800 million from offices in Boston and London. For more information, visit: www.fidelityventures.com.
