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Monday, August 23, 2010

PocketGear arranges another $15 million in funding for its app store businesses

There's definitely money in application stores. PocketGear, which acquired Handango earlier this year and now claims to be the world’s largest open app store and content marketplace, has arranged $15 million in new funding. The money will come from Trident Capital and BlackBerry Partners Fund.

Jud Bowman, President and CEO of PocketGear, said "The mobile application marketplace is exploding and we are very excited about the opportunity to use this funding to help our expanding network of service provider, OEM and media company partners efficiently bring new revenue generating services and devices to market more quickly and easily. As we power more app stores for our partners, PocketGear provides an even more powerful distribution channel for our network of developers. Trident and BlackBerry Partners Fund both have deep experience and success in mobile and internet services and, like us, believe that an open marketplace will deliver more value for all of the key stakeholders across the mobile value chain."

PocketGear has over 32,000 developer relationships and more than 140,000 paid and free titles in its app stores.

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Author: The Fonecast
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