Blyk Closes 17 Million Euro Investment

Sep 14, 2010

Blyk, a Finnish mobile media startup, recently closed a 17 million euro investment lead by Nexit Ventures and others. This investment helps Blyk to accelerate its growth in partnering with mobile operators worldwide. The company is currently negotiating several potential partnerships, in addition to its already-established agreements with the U.K.-based Orange and the Netherlands-based Vodafone.

Blyk began in 2006 as an ad-supported virtual mobile operator, later transitioning to a focus on mobile advertising as a business of its own. The company's revenues in recent years have averaged roughly 12-22 million euros with over a 600,000 euro profit in 2009.