DealTracker - MIH Invests $10 Million In BuzzCity
MIH, the investment arm of the South African media conglomerate, Naspers, has invested $10 million in the Singapore based mobile content and services company, BuzzCity.
BuzzCity’s key product is myGamma, a mobile social network, which has more than six lakh members from India. BuzzCity plans to utilise the funds to increase the market share and membership of myGamma, develop user generated content on the network and acquire more applications that could benefit advertisers.
The company claims to have received six billion page views on myGamma in the first six months of 2008. Jupiter Research reports that it has 2.7 million users in 70 countries and has served 1.7 billion ad impressions in July. [Via]
More about it on their blog.
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