Video ring-tone sharing site Vringo closed its Series B round, raising $12 million from Warburg Pincus and others. The company was started in 2006 by Jonathan Medved, and is will use the money to formally launch its product (now available in beta). Warburg’s George Allen will take a board seat.
From the release:
Vringo provides users with the ability to share video ringtones each time they make a phone call. Vringo brings ringtones to life by integrating video clips, avatars, animation, greeting cards or photos whenever users make or receive calls.
Vringo’s Chairman, Dan Ciporin: “Whereas in the past, ringtone content was mostly professionally created audio, Vringo content will be a richer multimedia and video experience with much of it being user generated. While personalisation used to be about ‘me and my phone,’ now it is going to be about ‘me and my buddy’s phone,’ as personalisation meets social networking.”
The Vringo application, now in public beta, will soon be available on a wide set of mobile handsets including devices made by Nokia, Motorola, SonyEricsson and Samsung. The company will use this investment round to formally launch its product and to expand global partnerships with leading mobile carriers and content providers.
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