Limbo, a small mobile gaming/community/auctions company (a bit hard to describe, actually), has received $1.1 million from Azure Venture Partners and Draper Fisher Jurvetson. CEO Jonathan Linner was formerly CEO at New York-based mobile marketing company Enpocket.
Among the first product from the San Mateo, CA-based company: Limbo Auction, which is a hybrid of a game and an auction that you play on your mobile phone. The winner of a Limbo Auction is the person making the lowest unique bid. With a Limbo Auction somebody wins, but nobody loses; each bid receives loot, and this loot can be redeemed for cool stuff in their store.
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