Zingy, one of the first American companies to make headway in the ringtone business, is out of the ringtone business. What does that mean for remaining ringtone companies, like ThumbPlay? From mocoNews:
Zingy, the NYC-based ringtone and other kinds of mobile content retailer, is closing its oldest division and changing its name to a brand it bought and killed two years ago: it is being renamed Vindigo. Scott Jensen, who joined Zingy in 2006 and was serving as SVP and head of business development, has been appointed new CEO…previous CEO William Mills was appointed a year ago.
As a result of this reorg, the company is closing down its “personalisation services” division, meaning it will do away with its ringtones, wallpapers and other content apps….The company will do some layoffs, it said, with some employees being redeployed in the remaining divisions.
Zingy is owned by Japan-based For-Side, which purchased the company in 2004 for $80 million, much of which went to founder Fabrice Grinda.