Mobile Monday Silicon Valley Reports $1.49bn Invested in Local Mobile Companies in 2008
Written by Mobile Monday Silicon Valley
Monday, 03 August 2009
Mobile industry investment growing in Social Media, Platforms, and Ads
SAN FRANCISCO, CA - August 3, 2009 - Mobile Monday Silicon Valley, the professional organization for mobile and wireless in the Bay Area, today released a report detailing trends in venture capital investment into local mobile organizations since 1990. Investment in local mobile companies reached $1.49 billion in 2008, an 18% increase over 2007. The Mobile Monday Silicon Valley figures include venture capital investment, and acquisition dollars.
In 2000, only fourteen local mobile companies received venture investment. In 2008, 90 companies received investment. There now are over 160 mobile companies in Silicon Valley, and these companies all fall into one of 24 broad categories including advertising, location, finance and applications.
"The mobile industry is one of the most exciting areas to find new investment ideas today," said Scott Raney, partner at Redpoint Ventures. "Clearly this research shows that the venture community in Silicon Valley has and continues to invest heavily in mobile companies."
The types of companies receiving funding and being acquired reveal trends in the mobile market. Companies in Social Media and Advertising & Marketing have seen the most significant growth since 2006. Platform companies have grown along with the industry, serving new companies, developers and industries that aim to reach consumers via mobile handsets.
Surprisingly, investment in Software Development and Apps has been moderate compared to industry buzz, indicative of venture capitalist hesitation to bet on mobile application business models. Application companies also tend to require less funding than larger, infrastructure or service oriented companies.
"Mobile is a multi-billion dollar industry in Silicon Valley," said Kate Imbach, organizer of Mobile Monday Silicon Valley. "Despite the economic downturn, the number of companies receiving funding and getting acquired are growing tremendously."
Mobile Monday Silicon Valley will continue to monitor and report on local investment throughout the year. To view the report, visit http://www.mobilemonday.us/?page_id=247. This report will be discussed at tonight's Mobile Monday Silicon Valley event on Mobile Monetization, 7pm at the Sir Francis Drake hotel in San Francisco.
Mobile Monday Silicon Valley
Mobile Monday Silicon Valley is the locally-run chapter of a global community of professionals and enthusiasts interested in mobile and wireless. The mission of Mobile Monday is to promote, discuss and share knowledge on mobile technologies with the community through monthly presentations, demos, and networking events. For more information, please visit http://www.mobilemonday.us/.
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