Monday, February 2, 2009

Motricity Releases Results, Hits $100M

Bellevue-based Motricity Inc. is privately held, but that didn't stop it from issuing a press release this morning discussing its 2008 year-end revenues. Motricity said it had gross revenues in excess of $100 million for the 2008 fiscal year, breaking the usual silence that private companies have about their results. No reason for the disclosure was given, but an increasing number of private companies--shut out from the IPO market--have been disclosing financial information about their companies. Motricity's flagship product is the mCore Platform, which mobile content providers and carriers use to deliver content to wireless customers. According to its Web site, Motricity has raised more than $200 million in venture financing since 2004. Its backers include Technology Crossover Ventures, New Enterprise Associates, Noro-Moseley Partners, Intel Capital, Advanced Equities and Icahn and Associates.