Boku mobile payments

Boku Inc. Originaly called Vidicom ltd , founded in chesterfield , Derbyshire, U.K. In 2003 by Glyn Smith and Thomas Kirk, Vidicom ltd sought funding from venture capitalists in silicone Valley for its application "Mobillcash" the original investment came from Khosla Ventures and Index and arrived in august 2008. [1] is a global, mobile payments[2] company now headquartered in San Francisco, CA. The company provides a mobile payments platform, enabling consumers to pay using their mobile phone, with purchases billed to a consumer's mobile phone bill. Vidicom ltd incorporated Boku inc as a Delaware company in 2009 and reversed itself into Boku, Boku launched in the USA[3] in 2009 with the acquisition of Paymo – a provider in the mobile payments industry, as well as $13 million USD in investment from venture capital firms.

Overview

Boku carrier-billing (charge to mobile phone bill) provides a secure and easy-to-use payment method. Carrier-billing enables unbanked[4] consumers who may have a mobile phone, but no credit card or traditional bank account, to make purchases online.

The majority of transactions processed through Boku carrier-billing are for digital and virtual goods[5] and services, including social and free-to-play games, virtual goods, social networks and other online experiences. Boku focuses on making the mobile phone number a viable payment option not only for virtual goods, but for digital goods (i.e. MP3's, eBooks, movies, etc.) and physical goods.

Partnerships

Boku has established partnerships with hundreds of game publishers and online services. Many gaming companies enable Boku's service, including Electronic Arts, Riot Games, Playfish, Playdom, Cie Studios, GameDuell, Cyberstep Communications, IGG, King.com, NHN USA, Ntreev, Outspark, Perfect World, Aeria Games, Games-Master (Cabal Online), K2Networks/GamersFirst, Meez, Three Rings and WeeWorld,Stardoll among others.

Investment and finances

Boku has raised more than $75M in venture capital[6] funding from Benchmark Capital,[7] Index Ventures,[8] Khosla Ventures,[9] DAG Ventures,[10] Andreessen Horowitz,[11] New Enterprise Associates, and Telefónica.

Recognition and awards

In 2009, Frost & Sullivan named Boku for their Best Practices award. In May 2010 the San Francisco Business Times named Boku a top 25 Tech and Innovation award finalist. In 2010, Mobile Trax awarded Boku their Mobility Award.

References

  1. ↑ boku.com
  2. ↑ Mobile Payments
  3. ↑ NY Times
  4. ↑ Unbanked
  5. ↑ Virtual Goods
  6. ↑ Venture Capital
  7. ↑ Benchmark Capital
  8. ↑ Index Ventures
  9. ↑ Khosla Ventures
  10. ↑ DAG Ventures
  11. ↑ Andreessen Horowitz

External links

Boku Gets $35 Million From Telefónica, NEA to Expand Service

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