June 16, 2009 08:00 ET

BOKU Acquires Paymo and Mobillcash Businesses; Extends Mobile Payments Service to 50+ Countries Worldwide

Receives £8 Million Investment From Benchmark Capital, Index Ventures, Khosla Ventures for International Expansion

LONDON and SAN FRANCISCO, CA--(Marketwire - June 16, 2009) - BOKU, Inc. today announced its payments service for global consumers wishing to make online purchases of digital and virtual goods with their mobile phones. The company is creating a new standard for the mobile, by bringing bank-grade mobile payments to the Web.

As part of today's news, the company announced the following:

-- The acquisition of Paymo, based in San Francisco, CA and the Mobillcash
   business, originally founded in the United Kingdom, two leading mobile
   payments companies with a global reach of over 1.6 billion users in 50+
   countries on 170 mobile operators.
-- The securing of venture funding of £8 million, led by Benchmark Capital
   (Kevin Harvey), with participation from UK-based Index Ventures (Danny
   Rimer) and Khosla Ventures (David Weiden), a financing trio with
   decades of experience in revolutionary consumer web services, including
   Skype, Tellme, Ofoto, eBay, Second Life and Twitter.
-- Additions to its management team, including:
   -- Mark Britto as CEO, with a background spanning twenty years of
      management, sales and payment roles at Amazon, Ingenio, and
   -- Paul McGuire, previously founder & CEO of Paymo and founder of
      mBlox, as SVP of Business Development.
   -- James Patmore as Managing Director of EMEA.
   -- Additional team members with executive experience in finance and
      technology companies including AT&T Interactive, PayPal, Apple,
      FICO, Google, O2 UK, Bank of America and eBay.

"We're very excited about the future of BOKU -- with Mobillcash's European success, Paymo's international reach, and stellar additions to the management team, the company is now very well positioned to lead the mobile payments market," stated Danny Rimer, Partner at Index Ventures.

"These acquisitions help BOKU continue its mission of building a global operator-supported mobile payments service and enables our partners to capitalise on the rapid growth of the multi-billion pound online virtual goods and microtransactions markets," stated James Patmore, Managing Director of EMEA.

BOKU's acquisitions of Paymo and the Mobillcash business makes it the leading global mobile payments platform with over 1.6 billion potential customers in 50+ countries on 170 mobile operators.

The market for online payments via mobile is being driven by the rapid, global growth of social networks, virtual goods and games, the popularity of mobile applications, and the large number of unbanked customers who have access to mobile phones, but not credit cards or bank accounts: With over 1 billion applications served, the iPhone has changed how people use and relate to their phones; The virtual goods and gaming market is worth $8 billion today and growing; On Facebook, 200 million users can now access 135 thousand virtual applications and games; The gap between the banked and underbanked is large, with 4 billion mobile phones but only 2 billion bank accounts worldwide.

Watch a demonstration of how easy and safe it is to pay using BOKU™ mobile payments:

About Boku

BOKU is creating the standard for online payments using your mobile phone, making it easy to pay for digital goods and social experiences across the web. With a strong focus on reliability and security, BOKU's goal is to bring bank-grade payments technology and mobile users together on the web, creating a trusted, viable and accessible market for consumers, publishers and carriers alike. Based in San Francisco with offices in Europe, Asia and Latin America, BOKU reaches over 1.6 billion consumers worldwide, and is funded by leading Silicon Valley entrepreneurs and venture capitalists Benchmark Capital, Index Ventures and Khosla Ventures. For more information, please visit

BOKU, Pay by Mobile, Paymo and Mobillcash are registered trademarks or trademarks of BOKU, Inc., and/or its subsidiaries. All other brand names, product names, or trademarks belong to their respective holders. BOKU reserves the right to alter product offerings and specifications at any time without notice.

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