San Diego’s Antengo Marching to Next Round in Mobile Classified Ads
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Apple’s iOS to the Android operating system, Samsung Galaxy tablet, Windows Phone, and the Kindle Fire.
After downloading Antengo’s free app, users can browse listings without logging in, using simple keyword searches. Users who want to post a listing must register. Antengo listings are also posted automatically to Craigslist, but one of the big advantages to mobile classifieds is what you might call mobile scalping—real-time offerings of tickets for things like concerts, festivals, and sporting events. Listings are searchable by the location (and proximity), time published, and other categories. Antengo also enables buyers and sellers to send instant messages without sharing their user names or phone numbers.
Now Wandell says Antengo is ready to take a bigger step—to look for substantially more capital than the $575,000 raised so far, and to expand the company’s technology beyond its existing five mobile products. More than two-thirds of the company’s seed funding came from one investor, which Wandell describes only as the venture arm of a Fortune 500 company, with the rest coming from individual investors. “We don’t need to raise a massive Series A round,” Wandell says, “but we need to scale and build on our momentum.”
Antengo has counted more than 250,000 cumulative downloads of its app, and the number of active users doubled during the third quarter that ended September 30, Wandell says.
Antengo also has added some key management expertise to the original team, which includes roughly 10 full-time and part-time employees. Eric Franchomme, who led advanced mobile software development at San Diego’s PacketVideo and has deep Android experience, joined Antengo as vice president of engineering. Former Chumby Industries CEO Derrick Oien also agreed to … Next Page »