SOURCE: MoJiva

November 12, 2008 07:58 ET

Mobile Advertising Company MoJiva Receives Series A Funding From Bertelsmann Digital Media Investments and Hires Digital Advertising Pioneer David Gwozdz as CEO

NEW YORK, NY--(Marketwire - November 12, 2008) - MoJiva (MoJiva.com), the company that simplifies mobile advertising and publishing, announced it has closed a Series A round with Bertelsmann Digital Media Investments (BDMI), the venture capital arm of the international media company Bertelsmann.

Richard Sarnoff, President of Bertelsmann Digital Media Investments (BDMI), said: "Our strategy is to support young companies that provide breakout solutions in the digital space. MoJiva fits this description perfectly because it brings a sophisticated and innovative service together with a simple user experience in order to drive monetization on the mobile web."

CEO Brings Deep Experience in Digital Advertising

The company also announced its selection of David Gwozdz as its chief executive officer. Gwozdz was on the founding team of DoubleClick, the internet advertising solutions company acquired by Google for $3 billion in March 2008.

Gwozdz devised and implemented DoubleClick's original media sales products and strategies and built multiple industry-leading sales teams. He also founded one of the first online ad networks, Hot Link Media, in 1995. Gwozdz recently came from Phorm, a behavioral advertising company.

"What MoJiva has created, combined with the recent advances in mobile browsing devices, I believe will be the catalyst to literally propel the mobile advertising world to levels that rival the online ad market," said MoJiva's Gwozdz. "The platform reflects the talent and creativity of the team who understands the challenges of the mobile web. Advertisers are excited, publishers are excited and I am thrilled to lead MoJiva at this important time."

With the addition of senior leadership and funding, MoJiva will focus on new product development and expansion of the sales and marketing staff. The company, which launched less than six months ago, recently surpassed half a billion in total ads served.

About MoJiva

MoJiva offers a simple solution to advertisers and publishers who want to break into the mobile advertising market. The MoJiva Self-Service Ad Delivery Toolkit allows advertisers to create and manage mobile campaigns to promote their products and services, while giving publishers the power to maximize their revenue through partnerships with premium advertising brands that extend their business to the mobile environment. MoJiva also leverages its technology platform to provide custom branded white label services to agencies and advertising companies across the world. With a comprehensive set of analytics, MoJiva is simple to use, simple to manage and gives companies unprecedented accuracy and control over mobile campaigns. MoJiva was founded in May 2008 and is located in New York City. www.MoJiva.com

About BDMI

Bertelsmann Digital Media Investments (BDMI), based in Luxembourg, is the Venture Capital subsidiary of the international media company Bertelsmann AG. BDMI investments focus on new trends and business models in the area of digital media. BDMI expects to support the success of portfolio companies through a close working relationship with Bertelsmann divisions (RTL Group, Random House, Gruner + Jahr, Arvato and Direct Group), enhancing their leading and innovative positioning in the media industry. BDMI is managed by an international team based in US and Germany. For further information: www.bdmifund.com

About Bertelsmann AG

Bertelsmann is an international media company encompassing television (RTL Group), book publishing (Random House), magazine publishing (Gruner + Jahr), media services (Arvato), and media clubs (Direct Group) in more than 50 countries. Bertelsmann's claim is to inspire people around the world with first-class media and communications offerings -- entertainment, information and services -- and occupy leading positions in its respective markets. The foundation of Bertelsmann's success is a corporate culture based on partnership, entrepreneurial spirit, creativity, and corporate responsibility. The company strives to bring creative new ideas to market and create value.

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