Motricity Hires Bankers To Evaluate Options


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



'What has Motricity done?." Well, quite a few things if you've followed:

– Screw up Cingular Media Mall for content providers and users thus making content purchasing and discovery as easy and pleasurable as passing stones
– 'Buy the contract, then build the platform' has proven to be a good strategy
– Raise VC money to dot-com years levels. Under their last rumored valuation they'd better make a piece of every mobile content transaction in the US for the next 6 years (quite unlikely under this US carrier competitive landscape and even the 'happiest' mobile market growth figures)

Hope they go public, though. With valuations this crazy, it would be a good exit for early investors and a nice stock to short for a few months after IPO for hedge funds out there (look at Glu these days).

And in all fairness, their CEO is a very effective and charismatic salesman/politician. Damn, if he were running I'd vote for him over Obama :)



Besides obscenely high profile parties, what has Motricity done?

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