Forbes & Manhattan Inc.

Forbes & Manhattan Inc.

November 20, 2013 14:01 ET

Forbes & Manhattan Congratulates Mobli on Its Strategic Financing and Partnership With Carlos Slim and America Movil

TORONTO, ONTARIO--(Marketwired - Nov. 20, 2013) -

Editors Note: There is a photo associated with this Press Release.

Forbes & Manhattan Inc. ("F&M"), a private merchant bank headquartered in Toronto, Canada is pleased to announce Carlos Slim as lead investor and strategic partner as part of a $60 million round for Mobli. F&M acted as strategic advisor to Mobli in conjunction with this transaction, along with Mr. Paul Anka, world-renowned musician and Special Business Advisor to F&M.

A mobile social network with a focus on picture and video sharing, Mobli had previously raised approximately $28 million from various investors, including celebrities such as Leonardo DiCaprio, Tobey Maguire and Serena Williams. This latest raise of $60 million, led by America Movil, uniquely positions Mobli in a position to access millions of new users through its commercial arrangement with the mobile carrier. Mobli currently has approximately 12 million users.

Paul Anka, states, "Being associated with Forbes & Manhattan and my friend Stan Bharti has given me the opportunity to see many great deals. When Stan introduced me to Mobli, I quickly realized the incredible potential it had. As a good friend of Mr. Carlos Slim, I immediately saw the synergies between America Movil & Mobli and am glad they were able to conclude a transaction. I'm very proud to be involved in what I'm sure will be a long term success story for all parties involved."

Stan Bharti, Executive Chairman of Forbes & Manhattan, states, "I would like to take this opportunity to congratulate Mobli on their strategic partnership with America Movil and Mr. Carlos Slim. I feel very proud to have helped put this transaction together and am very excited about Mobli's incredible future. I would also like to thank Mr. Paul Anka, a very close personal friend and business associate, for setting up this important partnership."

Part of the proceeds will also be used to launch and expand Mobli's visual search engine, which is set to rival Google Images, and according to CEO Moshe Hogeg, will enable users to "see the world through other people's eyes", and to scroll back in time visually.

Carlos Slim stated, "Mobli has developed a remarkable technology and this strategic alliance will allow America Movil to bring value added experiences for its users throughout the Americas." This deal will allow Mobli to reach millions of new, untapped users in Latin America, given that America Movil is one of the largest mobile network operators in the world.

Mobli not only allows users to upload photos and videos, but also has unique features that allow users to connect around common interests via others users, #hashtags, and locations in their feed, as well as communicate directly with other Mobli users within the app.

Mobli currently works across Android, Windows and Apple platforms. Moshe Hogeg, founder and CEO states, "It has been an honor to work with Forbes & Manhattan and with great people like Paul Anka and Stan Bharti. I am truly humbled to have a partner like Mr. Carlos Slim involved in Mobli. Through this transaction we are uniquely positioned to do something very powerful in the visual media space, and I truly believe that we are going to revolutionize the way people see the world."

To view the photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20131120-FORB800.jpg

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