Motorola Ventures Invests In Barcode Solution Scanbuy

Scanbuy Fanta Barcode Ad

Motorola (NYSE: MOT) Ventures, the investment arm of the handset-maker, has made an undisclosed investment in New York-based Scanbuy, which has developed a platform that let’s advertisers provide information to consumers through scanning a barcode with their phone. Release.

Motorola led the round with Masthead Venture Partners, Hudson Ventures and select private investors also participating. Terms of the investment were not disclosed.

Scanbuy’s barcodes can be placed on product packaging or in a magazine, and can link to more information, such as product reviews, price comparisons, coupon offers or directions to the closest store. Some of Scanbuy’s customers include: Nike, American Airlines, Nokia (NYSE: NOK), Coca-Cola, Volkswagen and Sears. The software works on major operating systems, like Android, BlackBerry, iPhone, Java and Symbian. The money will go towards expanding around the world, said Jonathan Bulkeley, Sacnbuy’s CEO. “We are thrilled to have a strategic investor like Motorola involved at this next stage of development. Their expertise and resources will contribute to mass adoption of this great technology.”

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