Bertelsmann reinvests in local messaging service Blue Lion Mobile's series B round.
Bertelsmann Digital Media Investments (BDMI), a corporate venturing unit of Germany-based publishing group Bertelsmann, has agreed to reinvest in local messaging service Blue Lion Mobile’s series B round.
The announcement had been expected after a regulatory announcement to the European Commission was made but Blue Lion last week released further details saying the B round was led by La Banque Postale venture capital subsidiary XAnge and German state bank KfW.
In June 2007 BDMI invested more than €1m in Blue Lion’s series A round, which has been its only disclosed investment since its launch in 2006.
Urs Cete, principal and chief financial officer at BDMI, said: "Presently [Blue Lion’s product] Qeep gains almost 10,000 users every day and is able to monetize them in varied ways. In mobile this is rather unique."
