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Ad-Funded MVNO Blyk Raises $50.4 Million

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imageimage Ad-funded, youth-oriented mobile virtual network operator Blyk has raised a massive $50.4 million (40 million euros) round from its existing investors – one of Europe’s biggest media/tech investments of the year. The funding is a real boost for the company, both in terms of money as well as belief in its business model, which some advertisers weren’t always convinced of. It also has a new partnership with operators in place, though the brief statement did not go into detail as to what this new strategy entails.

Rather ominously, CEO Pekka Ala-Pietilä also warned that

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