GetJar (Lithuania) - Dec 2007

In a first round of funding, Accel Partners has invested $6m into GetJar, a mobile application distribution and developer community, taking a significant minority in the business. Accel has been actively seeking independent companies in the mobile application sector, which has been traditionally dominated by operators, for potential investment and sourced the transaction directly. Part of the new capital has already been used to fund the launch of a new sales office in London and there are further plans to open an additional office on the West Coast of America and double the R&D facilities in the company’s Lithuanian headquarters in Vilnius. The deal is Accel’s first in Central and Eastern Europe.

Company

GetJar offers users the ability to download mobile applications submitted by mobile developers directly to their phone or PC from its website, www.getjar.com. Since its inception in 2005 more than 100 million downloads have been recorded, with the site currently averaging eight million downloads per month. A unique feature of the company’s service is the beta testing facility, which enables any developer to submit an application and have it tested on many different mobile devices by the sites beta-testing community, giving users the opportunity to have an active role in product development. GetJar has more than 200,000 registered developer and beta-tester accounts covering every country in the world with mobile infrastructure in place.

People

Kevin Comolli and Heikki Makijarvi led the investment for Accel and will both join the GetJar board. Ilja Laurs is the founder and CEO of the company.

Advisers

Company - Heller Ehrman, Chris Grew (Legal)Equity - Nabarro, Andrew Wigfall, Ted Dewhurst (Legal)

Sourced from: Nordic unquote" 69 (Jan 2008)

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• Topics
• CEE
• Expansion
• Technology
• Lithuania