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SendMe Acquires Bidinski Reverse Auction Assets From Vector Mobile
Reverse Auction Assets Add Significant Functionality To SendMe's Mobile Sweepstakes PlatformSAN FRANCISCO, October 20, 2006 – SendMe, the leader in direct-to-consumer mobile entertainment, today announced the acquisition of selected assets from Vector Mobile LLC, a developer and publisher of mobile messaging services. The assets are related to Vector’s Bidinski reverse auction, an online and mobile sweepstakes service where users compete to win merchandise and prizes by attempting to pick the lowest unique bid. SendMe plans to embed the Bidinski functionality into its overall infrastructure to create an end-to-end mobile sweepstakes platform.
“The addition of the Bidinski reverse auction capabilities will enable us to continue expanding our existing suite of mobile entertainment options to include mobile sweepstakes – a market that’s been popular in other parts of the world and is now poised to take hold here in the US,” said Russell Klein, co-founder and CEO of SendMe. “Yet this transaction is more than an acquisition of assets. Vector Mobile is a great partner to us, and we will continue to collaborate with them on new initiatives.”
“We’re thrilled to be partnering with the SendMe team, and we see a great deal of promise for future opportunities to work together on other initiatives,” said Bryan Aamot, Chief Technical Officer for Vector Mobile. “By combining SendMe’s ability to unlock the value we’ve created in products like Bidinski with our development team, we see expansion into a variety of new mobile entertainment experiences for consumers.”
The transaction, which involved assets only, was part cash and part stock. Terms were not disclosed.
About SendMe
SendMe, Inc. is a leading provider of direct-to-consumer mobile entertainment, offering the broadest selection of mobile subscription services available online in the US. Whether it's interactive mobile trivia, the latest ringtones and wallpaper, mobile sweepstakes or one of its many other services, SendMe is focused on delivering the best wireless content and experiences straight to consumers. Founded in June 2006 by three veteran entrepreneurs, SendMe has attracted leading venture investors and recently came out of stealth mode to launch their first online-to-mobile website, www.sendmemobile.com. SendMe is located in San Francisco, CA.
