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Summary:

SendMe Mobile, an off-deck provider that sells ringtones and wallpapers and hosts mobile sweepstakes, plans to announce today that it has se…

SendMe Mobile, an off-deck provider that sells ringtones and wallpapers and hosts mobile sweepstakes, plans to announce today that it has secured $15 million in a third round of capital. New investor GrandBanks Capital participated along side existing investors True Ventures and Spark Capital. SendMe has now raised $25 million in total, and has about 45 employees.

The San Francisco-based company said it will use the financing to market its three brands — SendMeMobile.com, SoLow.com and mBuzzy.com. In the past year, the three-year-old company acquired off-portal community mbuzzy.com, and launched the mobile sweepstakes site SoLow.com. SendMe also has partnered with an impressive list of content companies, including Corbis, EMI Music, Glu (NSDQ: GLUU), Telcogames, Gameloft (EPA: GFT), Sony (NYSE: SNE) Pictures and others.

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  1. Honestly, i don't get why they would need this much money. If they truly have a marketable product the public is willing to buy, or advertisers are willing to support, they should only need 2-3M and operate on cash-flow.

    Is there an inverse relationship between demonstrable revenues and funding? It would seem so, and that investors will get to see quite a long period of burn before return.

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  2. I don't know what is the surprise. Thumbplay has raised close to $50M and is yet to show a profit. Motricity never did either and…well, I lost count at $250M raised.

    Not that either makes sense but I am just not shocked by crazy VC money anymore.

    MR

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  3. Lets not forget 3guppies ~ 20 million burned

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  4. Yeah.. and it seems moconews is pretty much obsessed with cataloging the score on the playground as a top priority.

    Accessibility and consumer value is not on their radar.

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