Motricity has reportedly “hired two prominent investment banks to shepherd it through selling its stock on Wall Street”, claims News and Observer. The banks hired were Goldman Sachs and Morgan Stanley. The article cites recent moves like laying off a number of employees and attracting a $50 million investment from Carl Icahn to support its position that the company is going public. It’s possible Motricity could receive a take-over offer too good to pass up, but Roger Entner, a wireless analyst for IAG Research, said that Motricity CEO Ryan Wuerch “likes to be in the driver’s seat”.
– Motricity Secures $50 Million Funding From Carl Icahn
– Motricity Cuts Jobs & Reorganizes
– Motricity To Lay Off 16 Percent of Employees
– Motricity Gets $32 Million Funding; More Funding To Close Soon
– Motricity Acquires GoldPocket Wireless