Mobile Marketing Firm HipCricket Does An IPO on AIM; Raises $17.1 Million

[by Blake Robinson] Bellevue, WA based mobile marketing firm HipCricket, which almost got bought by Neomedia last year, then ditched that and raised two rounds of funding, has raised another $17.1 million, this time on London’s AIM market. This capital will buttress the $10 million that the company already raised in its first and second rounds of funding.

Its IPO brings HipCricket’s market valuation to $155.2 million, which will augment organic growth in the short-to-medium term. The new funds better equips the company to hold its own against mobile marketing competitors like NeoMedia who, just over a year ago failed in an attempt to purchase HipCricket.

To date, HipCricket has focused on making radio a more interactive vehicle by providing clients with tools allowing them to more easily market to mobile devices. Their current clients include Clear Channel, (NYSE: CCU) Fox and NBC.

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