SEVEN grows with new CEO and $42 million in expansion capital
Posted by rexdixon on December 14, 2006
Wow. That is a boatload of open toe sandals! $42 million in expansion capital. Until I read the press release, I had no idea what SEVEN was. I figured it was the movie by the same name. Oh, don’t forget to check out ClickStar that comes out tomorrow! I talked about it at the beginning of the month.
Seriously, they are getting a new CEO. Ross Bott will join the company as its new chief executive officer effective January 1, 2007. He will be teaming with Kent Thexton, SEVEN’s current chief executive officer, who will assume the title of executive chairman and remain actively involved with the company’s business and customers. This expansion of SEVEN’s executive team is timed with a more than doubling of its subscriber base in 2006 and substantial acceleration heading to 2007.
They raised an additional $42M in capital to accelerate its growth worldwide. In 2006, SEVEN grew its customer base from 76 to 108 mobile operators in more than 60 countries. In 2007, SEVEN will continue to focus on winning new customers, but, more importantly, expects to invest aggressively in ensuring that its customers are successful in reaching their mobile email subscriber targets. New capital market investors joined SEVEN’s current investors in an oversubscribed financing round.
That pretty much sums it up. You can read the complete article though. I never knew that SEVEN could mean more the ClickStar’s backer or Hollywood Star. Technically Speaking, you should learn at least one new thing every day. I just did. Day is complete. BUT.. not the blogging to be caught up on! 🙂