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August 09, 2005

Content-Based MVNO Amp's Gets $67 Million Funding, Including Universal Music

Amp'd Mobile, the much-hyped though yet-to-be-launched MVNO (virtual mobile operator), has received $67 million in venture funding, including funding Universal Music Group, Highland Capital Partners, Columbia Capital, Redpoint Ventures, and some undisclosed investors.
Amp'd, which will rent network space from rival Verizon Wireless, will now have music on its service from Univeral. The company, announced earlier this year, has been founded by ex-Boost Mobile team, and has focused heavily on content, especially related to extreme sports and music.
CEO Peter Adderton, which describes Amp'd as a mobile media service rather than a phone service, said he is discussing music content deals with multiple record labels.
Other rivals include the Virgin Mobile USA, and Sprint, which will also own Boost Mobile when it buys Nextel.

Posted by Rafat Ali in Mobile Music, UMG, Venture Capital | Permalink


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