eBay Acquires Zong for $240,000,000

  • Feed Type
  • Date
    7/7/2011
  • Company Name
    Zong
  • Mailing Address
    116 Hamilton Ave Palo Alto, CA 94301
  • Company Description
    Back in the year 2000, when David Marcus had a full head of black hair, he started the company Echovox to help large media companies make money through mobile services. (Think voting for singers on televised singing talent shows, for example.) For the better part of the decade, Echovox did just that – until one day, David got fed up with long, painful credit card checkout flows and thought, now wouldn’t this be easier if I could just buy this with my phone? Since Echovox already has hundreds of direct connections with mobile carriers, why shouldn’t that be possible?
  • Website
    http://www.zong.com
  • Transaction Type
    M&A
  • Transaction Amount
    $240,000,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    The acquisition will be paid for with all cash.

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