paidContent.org - The Economics of Content

Current Story

Thomson Reuters and RIM Launch $150 Million Mobile App Fund

By Dianne See Morrison - Mon 12 May 2008 08:44 AM PST

In a strange but logical pairing, RIM (NSDQ: RIMM), the makers of Blackberry, along with media giant Thomson Reuters (NASDAQ: TRIN), is launching a $150 million venture capital fund that would invest in mobile applications and services for the BlackBerry platform and other mobile platforms. Canadian VC firms JLA Ventures and RBC Venture Partners will co-manage the fund...both RIM and Thomson are Canadian companies as well. This comes after Apple (NSDQ: AAPL) announced its $100 million iFund dedicated to applications for the iPhone and iPod touch platforms a few weeks ago.

Unlike Apple, RIM said its fund would be open to all mobile platforms, not just for the Blackberry. In a sign that it wanted to break away from its business roots, it also said it would consider both consumer and corporate applications, though presumably Reuters’ interest is in business apps. Some more details in the release here.

RIM also announced the release of its so-called iPhone killer, the Blackberry Bold. While the triband smartphone is aimed at corporate users and supports HSDPA networks, it also includes many consumer-type multimedia features, GPS and WiFi built in. It also has a 2 megapixel camera that can record video, while its media player can play movies as well as display pictures and manage music. AT&T (NYSE: T), the iPhone’s exclusive US carrier, will carry Blackberry Bold. (Release)

Posted in: Companies, Reuters, Mobile, VC+M&A, Venture Capital

Tags: thomson reuters, research in motion, blackberry,

Check our our new Social Media Deals Report, which examines the categories, number and size of VC and M&A deals into social media

Related Research from Alacrastore.com

0 Responses:
  • There are currently no comments for this article.

    Why don't you make one?

Post Your Comment

Mobile Options

» Mobile App
» Mobile/WAP Site

Send a News Tip

About

paidContent.org, flagship of the ContentNext Media network, provides global coverage of the business of digital content.

Rafat Ali
Publisher & Co-Editor

Staci D. Kramer
Co-Editor

David Kaplan
Senior Correspondent

Joseph Weisenthal
Correspondent

Robert Andrews
U.K. Editor

Amanda Natividad
Editorial Producer

EconCeleb Conference - The Economics of Celebrity. July 23 at the Roosevelt Hotel in Hollywood

Featured Report - 2008 Social Media Deals Report

front page of report

The economics of social media continue to heat up, with ever more buzz created in new and growing market categories. This report examines the categories, number and size of investment and acquisitions into social media and the resulting value created from 2007 through 2008. Order your report today to analyze deals made by Yahoo, Disney, Google, AOL, CBS, Hearst, Microsoft and many more.

Learn more or purchase now.

New Media/Interactive Job Listings

Post Job
More Jobs

Generous Supporters