Growth in User Generated Content and Interactive Communication Delivers
Additional Funding, Closing Out Initial Round Now Totaling Over $5 Million
NEW YORK, April 3, 2008 /PRNewswire/ -- VIRTUAL WORLDS -- FIX8, a
division of Mobinex, Inc., a leader in virtual communications technology,
today announced the company has secured an additional $2 million in Series
A financing from SK Telecom, the top wireless communication provider in
Korea, with revenue of KRW 11.28 trillion ($11.4 Billion US). FIX8 now
closes its initial round of financing having successfully raised over $5
million. In addition, SKT has awarded FIX8 with a contract to lead the
development of SKT's 3D avatar animation technology, which will enhance
mobile and online communications.
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"SKT's investment is a testament to FIX8's growing consumer popularity
and expanding interest in video and mobile User Generated Content," said
FIX8 CEO, Linh Duy Tang. "We are proud to partner with a world-renowned
telecom company that shares in our commitment to delivering innovative
solutions for virtual communications across Internet, TV and mobile
phones."
FIX8's premium content offerings include virtual communications
technology that digitizes human expressions via webcam in real time. Users
can animate live video on IM services including MSN, Yahoo, AIM and Skype.
FIX8 videos can also be saved and posted across Facebook, MySpace and
YouTube. FIX8 Mobile will soon offer animated video chat and sharing on
camera phones.
"Investing in FIX8 was a strategic decision based on the company's
pioneering vision and technology leadership in the area of virtual
communications coupled with explosive growth in mobile User Generated
Content," stated the investment manager of SK Telecom. "We also look
forward to continued collaboration with FIX8 as SKT introduces additional
mobile UGC services across Korea."
In addition to SKT's $2 million investment in FIX8, the wireless
operator also awarded the company a contract to lead the development of
SKT's 3D avatar animation technology to enhance mobile and online
communications. The FiX8 solution will allow users to communicate using
interactive avatars that map to their facial movements and expressions.
Each socially interactive character will offer characteristics of personal
identity, lifelike emotions and other fun features.
"Not only did SKT invest in FIX8, but we contracted the company to
develop our interactive avatar technology. FIX8 is a true innovator in the
Web 2.0 and now 3.0 space. The technology will be central to social
interactivity and media-enhanced communication for our users," added the
project manager of SKT's 3D avatar animation project.
About FIX8
FIX8 is a new media company that blends Internet and mobile platforms
with rich streaming video creation, editing and sharing capabilities. FIX8
is a FUN, creative new way of communicating. Developed in response to rapid
growth in video sharing, social networking and user-generated content, FIX8
is the future of rich interactive communication. Headquartered in Los
Angeles, FIX8 has offices in China and Vietnam. FIX8 is a division of
Mobinex. http://www.FIX8.com
About SK Telecom
SK Telecom (NYSE: SKM, KSE: 017670) is the top wireless communication
provider in Korea, where it has over 22 million subscribers and more than
50% of the total market. Established in 1984, the company reached KRW 11.28
trillion in revenue in 2007. SK Telecom was the first to launch and
commercialize CDMA, CDMA 2001x, CDMA EV-DO and HSDPA networks, and
currently provides cellular, wireless Internet, mobile media, global
roaming services and more. For more information, please visit
http://www.sktelecom.com or email press@sktelecom.com.
SOURCE FIX8
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