Friday, 9 October 2009

US mobile content provider SendMe makes revenues of $10m per month

"Thanks to its subscriber base of more than 1 million youngsters, mainly in their early teens, who pay an average of $9.99 a month, SendMeMobile is making $10 million a month in revenue and has reached profitability. And since sales are rising, it's not a stretch to expect the company to end the year in the range of about $150 million annually.
The company is just three years old. And unlike almost all Silicon Valley companies, SendMe started generating tens of thousands of dollars in revenue the day it launched, stunning investors. It's raised $35 million to date from True Ventures and Spark Capital, and doesn't expect to raise more—ever."
Source: BusinessWeek, 13th July 2009

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