Incubator LX Ventures to Acquire Canadian Startup Mobio Technologies

Posted by Techvibes NewsDesk

Vancouver-based publicly traded incubator LX Ventures is acquiring Mobio Technologies.

Mobio launched its flagship product, Mobio INsider, in June 2012. It's a fan-directed content network for social media influencers and their fans that has helped music stars with 10,000 to 28 million social fans accelerate their careers, create content requested and voted on by their top fans, and increase revenues from their social media platforms, according to the startup.

LX Ventures plans to expand INsider's capabilities to a broader group of influencers including actors, athletes, and celebrities alike. According to LX, Mobio's platform has recently been monetized and has "a clear revenue model" that leverages mobile devices.

SEE ALSO: Mobio Technologies Secures $3 Million in Funding

"Mobio's incentivized advertising technology is a natural fit for our AdTech market vertical. Together, we will internally innovate and deliver revolutionary ways for brands to reach their target consumers across multiple market sectors," says Mike Edwards, CEO of LX Ventures.

"It's exciting to become part of LXV as their experience and connections to all influencers and large advertisers is incredibly broad," noted Clovis Najm, CEO of Mobio. "Their team has the skills to accelerate the expansion of Mobio into the global offering we have all been working towards."

RELATED: Mobio Launches Mobile App, Band ConneXion

LX says that the term sheet remains subject to negotiation but the deal will be worth approximately 2,000,000 LXV common shares "in addition to certain revenue sharing provisions."

 

Company:
Mobio
Website:
http://www.mobio.net
Location:
Vancouver, British Columbia, Canada

Mobio Technologies, Inc. is a leading consumer marketing and technology firm committed to giving brands and consumers innovative, meaningful and rewarding mobile experiences. Founded in 2009, the Mobio solution empowers consumers and brands to interact with each other on a one-to-one basis and develop personal relationships that are mutually beneficial. Using advanced authentication and mobile payment technology,... 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


Similar Posts


blog comments powered by Disqus

Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more



Who's Hiring



Recent Comments

Powered by Disqus