LX Ventures Pivots from Investor to Startup, Takes Over Mobio Brand

Posted by Rob Lewis

Yesterday LX Ventures announced it will be changing its corporate name to Mobio Technologies, concurrently trading as "MBO" on the TSX Venture Exchange.

This means that LX Ventures will no longer being investing in Canadian startups, instead becoming one itself: Mobio, a social media platform that became the flagship of its investment portfolio.

"Changing the company's name to Mobio Technologies is a practical step given that the Mobio social media platform is our primary focus," said Mike Edwards, CEO of LX Ventures. "Making the Mobio brand synonymous with our corporate identity provides the market clarity on what we're all about."

Late last week LX Ventures announced it had arranged a non-brokered private placement to raise up to $1,275,000 with the proceeds used to further advance its Mobio social media platform with product enhancements such as video capabilities, improved usability, and integration with Strutta's social promotions platform.

LX Ventures launched in 2012 and had acquired such companies as Copper.io, Strutta, and Sosido Networks.

Company:
Mobio INsider
Website:
http://www.mobioinsider.com
Location:
Vancouver, British Columbia, Canada

Mobio INsider is the social network for influencers and their followers. We provide users with a community where they can discover, follow and interact with each other - and, we give influencers an opportunity to earn money through our revenue sharing program. Mobio INsider is owned by LX Ventures and is headquartered in Vancouver, BC. To learn more, please visit www.mobioinsider.com and... more

Company:
LX Ventures
Website:
http://www.lxventures.com
Location:
Vancouver, British Columbia, Canada

LX Ventures is a publicly traded incubator that launches, integrates, and acquires early stage high growth technology companies. We are a group of entrepreneurs dedicated to developing the next generation of entrepreneurs by providing funding, resources, mentorship, and access to our global network. We are in the business of building businesses. Our approach is twofold: we either partner with existing companies to... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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