SOURCE: Snaptu

Snaptu

March 12, 2010 13:13 ET

Snaptu Attracts Investment From Sequoia Capital

MENLO PARK, CA--(Marketwire - March 12, 2010) - Snaptu, a leading mobile application company, today announced it has secured funding from Sequoia Capital.

Snaptu's unique mobile service incorporates a suite of popular social networking, news, informational and sports applications, including Facebook, Twitter, Picasa and Flickr. The application works on virtually any phone -- not just smartphones -- and has been downloaded to over four million phones worldwide.

"We're excited by Snaptu's technology and vision and look forward to working with them to fulfill it," said Sequoia Capital partner Gili Raanan. "We see huge value for consumers and mobile operators in Snaptu's unique approach to bringing mobile applications to virtually any phone."

Snaptu CEO Ran Makavy: "With Snaptu, millions of people around the world can now use their existing phones to access their most popular Internet sites and enjoy a user experience comparable to the latest smartphones. We are delighted that Sequoia supports our strategy of using the Snaptu application infrastructure to bring the full capability of the mobile web to virtually any phone, anywhere."

For further information, or to download Snaptu's mobile app, please visit www.snaptu.com or m.snaptu.com from a mobile device.

About Snaptu

Formerly known as Moblica, Snaptu democratizes mobile applications by bringing popular social media, news, informational and sports apps to more than 2,000 mobile devices via its unique mobile application infrastructure. Snaptu is headquartered in Tel Aviv, Israel, with offices in London, UK. To find out more please visit www.snaptu.com or m.snaptu.com from a mobile device.

About Sequoia Capital

Since 1972, Sequoia Capital has provided startup venture capital for people who have the creative capacity to turn ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs," Sequoia Capital's partners have worked with innovating companies such as Cisco Systems, Yahoo!, Google, PayPal (eBay), Apple Computer and Oracle. The companies funded by Sequoia Capital now account for about 10 percent of the value of NASDAQ.