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Vringo, the video-ringtones sharing company, announced today the closing of a series B round with Warburg Pincus, of $12 million.
“Vringo set out with an ambitious goal to make video ringtone sharing finally work,” said Jon Medved, the founder and CEO of Vringo. “We are delighted to be working with Warburg Pincus, a firm that shares our vision and recognizes the enormous consumer potential in sharing video ringtones. Their extraordinary track record, truly global reach, corporate relationships and strategic insight will bring huge value to Vringo as it grows.”
The service is really innovative and I wrote about this service already in this blog a few weeks ago. Thanks to this round, the company confirms their intention to formally launch their product (now in private beta) and to expand partnerships worldwide with mobile operators and content providers.
