Mobile application provider Motricity to lay off many of its workers

Mobile application provider Motricity to lay off many of its workers

Wherever investor Carl Icahn treads, there’s usually turmoil.

Now, one of his companies, Motricity, a Durham, N.C. provider of mobile content applications for telecom carriers, is preparing to lay off up to 200 of its 650 employees, according to a North Carolina business publication WRAL.

We haven’t written about Motricity yet at VentureBeat, but the big-name investor Carl Icahn and other venture capitalists have pumped in more than $350 million into the company. The private Motricity is… Continue Reading

Once worth $31B, Infospace mobile service sold for $135M

Once worth $31B, Infospace mobile service sold for $135M

Mobile-content distribution company Motricity has agreed to buy mobile unit of publicly traded InfoSpace for a mere $135 million, an anticlimactic end to one the most bubbly stories ever. InfoSpace was once valued at $31 billion for its mobile web technology.

That was at top of the market during 2000, and InfoSpace has since struggled to reorient itself. InfoSpace said it is selling the money-losing mobile services unit so that it can focus further on its… Continue Reading