FINLAND - Nexit-backed Limbo to merge with Brightkite

The site allows users to broadcast their location and thus is meant to facilitate face time and real world meetings between friends. The new entity will have a total of two million unique monthly users, with some 50 million SMS messages processed. The service has distribution agreements with Facebook, Apple and more than 25 mobile operations in North America and worldwide. Revenues are generated through advertising.

Brightkite is headquartered in Burlingame in the US, with offices in Denver and Helsinki in Finland. The company also has media sales staff in New York and Los Angeles.

Nexit lead a $9m financing round for Limbo, which launched in 2005, in January this year. Other investors included Azure Capital Partners, Draper Fisher Jurvetson and New Enterprises Associates.

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