New funds from existing investors will be used to drive international expansion.
Blyk, the ad-funded MVNO, has raised €40 million to "support its ongoing operations and international expansion".The company, which offers free calls and texts to 16-24 year-olds in return for them receiving ads on their phone, says it has also "streamlined" its organisation to account for current economic conditions.
It has also unveiled what it calls a new media partnership strategy in advance of forthcoming moves into Germany, Spain and Belgium.
Finnish-owned Blyk first launched services in the UK back in September 2007 and claims to have 200,000 customers.
Antti Öhrling, Blyk’s co-founder and executive director, said: “The Blyk media model, which is based on highly relevant messaging, has proven to be an extremely effective form of advertising to the youth audience. Blyk’s new partnering strategy will make this powerful model available for operators, brands and young people around the world.”
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