NEW ORLEANS, CTIA WIRELESS 2005, March 14 /PRNewswire/ -- WaveMarket,
(http://www.wavemarket), a pioneer in location-based and mobile blogging services,
announced it has raised financing from QUALCOMM Incorporated (Nasdaq: QCOM).
WaveMarket will use the proceeds to drive the success of their Crunkie service
platform (mobile location-based social network), alert solutions and
location-based platform by providing concentrated support to their growing
list of wireless carrier customers.
"We felt that WaveMarket uniquely combines core technology skills with
innovative product design in the important area of location-based services,"
said Prashant Kantak, senior director of business development for QUALCOMM
Ventures. "We believe WaveMarket is very well positioned to strongly
contribute to the growth in the location-based services market. WaveMarket's
platform is well suited to help application developers maximize the
value-added capabilities of the position location infrastructure installed by
3G CDMA operators."
"QUALCOMM is the undisputed leader in location-based technology. We are
proud to forge an investment relationship and to become part of the QUALCOMM
Ventures portfolio," said Tasso Roumeliotis, CEO of WaveMarket. "The
investment allows WaveMarket to expand sales, customer support and engineering
resources to meet the demand for WaveMarket's WaveIQ(TM) suite of products,
and will accelerate our efforts to convert any mobile phone into an
on-location broadcaster."
WaveIQ consists of three software products, all available now:
-- Crunkie -- a location-aware mobile social network that allows friends
to locate each other as well as share location-tagged blog posts.
-- Map.Me -- a mobile phone map interface and platform that allows users
to pan/zoom and experience dynamic mobile city guides.
-- WaveAlert -- server that allows users to be notified whenever they
enter or leave a designated area -- proximity-based alerts. Set "geofences"
around important assets or be notified if your friends are nearby.
About QUALCOMM
QUALCOMM Incorporated (http://www.qualcomm.com) is a leader in developing and
delivering innovative digital wireless communications products and services
based on the Company's CDMA digital technology. Headquartered in San Diego,
Calif., QUALCOMM is included in the S&P 500 Index and is a 2004 FORTUNE 500(R)
company traded on The Nasdaq Stock Market(R) under the ticker symbol QCOM.
About WaveMarket
WaveMarket Inc. is a pioneer in location-based alerts and blogging.
WaveIQ, the company's software product suite, enables users to receive
notifications based on user movements or location triggers. It is the world's
first carrier-grade location trigger solution. WaveIQ also allows
mobile-handset users to spot and broadcast text and rich media to peers,
groups or the world. Marketing to mobile carriers in the United States, Europe
and Asia, WaveMarket's customers include, SK Telecom, Korea's leading wireless
carrier, Bell Mobility, Canada's largest communications company, and AT&T
Wireless. Headquartered in Emeryville, CA, WaveMarket has offices in Korea.
Founded in 2000, the company is financed by Draper Fisher Jurvetson, Nokia
Venture Partners, Intel Capital, and Telecom Italia.
(http://www.wavemarket.com/)
NOTE: QUALCOMM is a registered trademark of QUALCOMM Incorporated.
SOURCE WaveMarket Inc.
 back to top
Related links:
http://www.wavemarket.com
CONTACT:
Valerie Christopherson of Bock
Communications, +1-714-540-1030, ext. 17, or
vchristopherson@bockpr.com, for WaveMarket Inc.
|
