Mobcast Secures Funds

Mobcast Services, the company behind the GoSpoken mobile books brand, has completed its second round funding, in which it has attracted investment from Japanese mobile book giant, Co., which sells 2 million eBooks per month to mobile devices. Co. has invested 1m in various instruments, equating to approximately a 15% stake, valuing the business at around 6.67 million.
Founded by Tony Lynch and Andy McNab, Mobcast offers platforms and technology that enables mobile phone operators to offer bestselling books alongside music and games. In the last 18 months, Mobcast Services has secured licensing and distribution agreements with major international publishers in the UK, USA & Europe, and with organisations including Apple, RIM, Nokia, Samsung, Vodafone, Orange, 3, T-Mobile and Verizon USA.
The popularity of the eReader has taken everyone by surprise, says Mobcast CEO, Tony Lynch. We predict that in five years time, every book lover will be reading a book on their phone. Its just too convenient.