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
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