FINLAND - Sofinnova et al. inject EUR 40m into Blyk

Finland-based Blyk has created a mobile network for people aged 16-24 funded by advertising. Blyk links young people with brands and gives them free texts and minutes every month. The advertising products are based on the user receiving a message and responding to it, engaging the target in dialogue.

The product was launched in the UK in September 2007. It currently has over 200,000 users and has run over 2000 campaigns in the UK with an average response rate of 25%.

The recent capital infusion will fund ongoing operations and further international expansion.

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• Topics
• Expansion
• Nordics