Motorola Invests In 422, Inc.
Motorola Ventures - Motorola Invests In 422, Inc.Monday May 23, 9:00 am ET
Motorola Ventures, the strategic investment arm of Motorola, Inc. (NYSE: MOT - News) today announced that it has made an equity investment in 422, Inc., a leading developer of directory assistance service for wireless phone users. Motorola Ventures made the investment in 422 as part of a round of Series C Preferred Financing, along with 422's existing investors, Draper Fisher Jurvetson and Draper Fisher Jurvetson Gotham Ventures.
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422 brings the next generation of Directory Assistance to the wireless community, allowing access to over 200 million listings, including wireless & wireline numbers, email addresses and screen names. The service allows people to search and connect with people in ways they understand such as current job, school, as well as traditional street, city, state search.
Through www.422.info, consumers can enroll their wireless telephone number in the directory while maintaining full control over their phone listing and what information is made available. Importantly, 422 helps protect privacy by connecting calls without revealing the phone number or other private information not authorized by the consumer. The service incorporates high levels of privacy control allowing people to determine who can connect to them, when and how. In addition to access through the 422 access code, users can carry out searches, register and edit their listings at www.422.info.
"422 is an outstanding addition to our portfolio of technology investments," said Warren Holtsberg, corporate vice president, equity investments at Motorola. "422's cutting-edge wireless directory technology of connecting consumers seamlessly to the people and information that they want aligns with Motorola's vision of bringing seamless mobility to wireless users."
"These investments in 422 from both Motorola and Draper Fisher Jurvetson are what make new companies happen and new industries appear," said Dean Becker, 422's founder and chairman. "422 was founded to transform directory assistance into a service that can be useful in today's world where people no longer sit at a desk from 9-5. Through 422, consumers will be able to control how they will be found and maintain total control over their privacy. Motorola is the ideal partner for 422 and we look forward to working together with them to help to make consumer's lives even more seamless."
Warren Packard, Managing Director of Draper Fisher Jurvetson, said, "We are pleased to expand our investment in 422 and we are excited that Motorola, a leading innovator of wireless technologies, also recognizes the importance and potential of this technology. We believe the investment by Motorola will lead to greater opportunities to build upon the important progress the company has made and help advance this technology to the next level."
About 422
422 brings the next generation of Directory Assistance to the wireless community, allowing access to over 230 million wireless & wireline listings. The service allows people to connect with people in ways they understand such as current job, email address as well as traditional street, city, state search. The service incorporates high levels of privacy control allowing people to determine who can connect to them, when and how. In addition to access through the 422 access code, users can carry out searches, register and edit their listings at http://www.422.info .
About Motorola Ventures
Motorola Ventures (MV) is the global, strategic venture capital investment arm of Motorola, Inc. MV actively invests at all stages in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets and new talent. For more information: http://www.motorola.com/ventures .
About Motorola
Motorola is a Fortune 100 global communications leader that provides seamless mobility products and solutions across broadband, embedded systems and wireless networks. In your home, auto, workplace and all spaces in between, seamless mobility means you can reach the people, things and information you need, anywhere, anytime. Seamless mobility harnesses the power of technology convergence and enables smarter, faster, cost-effective and flexible communication. Motorola had sales of US $31.3 billion in 2004. For more information: http://www.motorola.com .
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Source: Motorola, Inc.
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