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Boku Launches New Online Payments Service for Mobile Consumers; Acquires Paymo and Mobillcash Businesses
Taking the Lead in Global Mobile Payments, Boku Now Enables Online Merchants and Publishers to Reach Over 1.6 Billion Consumers in 50+ Countries on 170 Carriers
SAN FRANCISCO, CA–(Marketwire – June 16, 2009) – Boku, Inc. today announced the launch of its new mobile payments service, along with the acquisition of both Paymo and Mobillcash businesses — two leading providers in the global mobile payments industry. The Boku™ payments service enables global consumers to make online purchases of digital and virtual goods with their mobile phones. The company is creating a new standard for mobile transactions by bringing bank-grade mobile payments to the Web, and enables merchants and publishers to provide fast and reliable mobile payments to over 1.6 billion consumers globally. In a related announcement today, the company raised $13 million in venture funding led by Benchmark Capital, with participation from Index Ventures and Khosla Ventures, and unveiled its management team.
“We’re thrilled to unveil Boku. Our vision is to provide a new industry standard for mobile payments, bringing ease, accessibility and security to the market,” stated Mark Britto, CEO for Boku. Read full post
Boku Unveils New Team, Company, Strategy and Delivers Unmatched Mobile Payment Reach in 50+ Countries Worldwide
SAN FRANCISCO, CA–(Marketwire – June 16, 2009) – Boku, Inc. today announced it has raised $13 million in venture capital investment led by Benchmark Capital, with participation from Index Ventures and Khosla Ventures. The company is offering a new payments service for global consumers who make online purchases of digital and virtual goods with their mobile phones. Boku is building a new market for publishers and carriers by bringing bank-grade mobile payments to the Web. In a related announcement today, the company has acquired both Paymo and Mobillcash businesses, two leading global mobile payments companies.
Mark Britto joins Boku as CEO, with a background spanning twenty years of management, sales and payment roles at Amazon, Ingenio and FirstUSA, along with a seasoned team with management experience in finance and technology companies including AT&T Interactive, PayPal, Apple, FICO, Google, O2, Bank of America and eBay.
“Mark and his team at Boku have the right DNA in payments, mobile and the web to execute on this timely vision and deliver a solid payments foundation capable of serving a very fast growing market,” stated Kevin Harvey, Partner at Benchmark Capital. Read full post
We’ve been plugging away in stealth mode these last 5 months and I am excited to announce the launch of Boku. I’ve been working in and studying payments for 20 years. The timing has become optimal for mobile as a payments option, and so I reached out to my co-founders Ron and Erich to put a team together to create what we hope will be the industry standard for mobile payments. We have a lot to announce today including our team, the funding we’ve secured, and the acquisition of the Paymo and Mobillcash businesses.
A GLOBAL STANDARD
Our vision is to create the global standard for mobile payments. To go after this big and challenging opportunity requires some key ingredients.
The first is great people. Boku has been fortunate to attract team members who have done everything from building the Amazon payment platform, designing fraud engines for PayPal and creating fun (and profitable) web and mobile experiences at places like Apple and Google.
Mobile payments is a global opportunity. To serve merchants and publishers (and their customers) requires broad geographic coverage. To that end, we’re also announcing coverage in over 50 countries; so, whether you’re in Turkey or Malaysia, you can buy virtual goods using Boku. Read full post