Japanese Company Mmbi Raises $618 Million To Launch Smartphone Broadcasting Service

Posted Nov 29, 2011

Mmbi has raised $618 million in funding as they prepare to launch a smartphone broadcasting service. The investors in this round are from their 11 corporate partners, which includes Fujitsu, Sharp, and Fuji Media Holdings. Their new partners will also provide media business expertise. Mmbi is a subsidiary of mobile communications company NTT DoCoMo. They have issued 962,000 new shares and the 11 partners took 196,620 of them. Other existing shareholders took the other 765,360 shares. [Variety]