Expanding on recent newsletter mentions @ www.greenbackers.com . Especially with MIMV following recent turnaround on news surrounding their deal with MSFT....See below.
MIMV additional discussion on expanding deal with MSFT.....The stock gapped to .32 initially on earlier news....Focus on support at flatline into the day....
|Microsoft's Windows Azure Extends The Reach Of Mimvi Search And Recommendation Technology at Seeking Alpha10:51am EST|
Microsoft (MSFT) and Mimvi, Inc. (MIMV.OB) announced earlier today that Mimvi is taking advantage of Microsoft's Windows Azure cloud platform to extend its core technology to internal and external groups and partners in the Microsoft ecosystem. This strategic relationship with Microsoft allows Mimvi to further enhance and extend its proprietary algorithmic technology -- the foundation of its mobile search, discovery, and recommendations engine. This comes after the release of Mimvi App Search in the Windows Phone Store earlier in December.
According to Dan Dan Sandlin, manager of the Windows Azure Team at Microsoft:
Companies such as Mimvi that develop ways to approach mobile search and app recommendations can take advantage of Microsoft's scalable cloud solution. With Windows Azure, Mimvi can quickly build, deploy and manage its core mobile search and discovery technologies and applications across a global network of Microsoft-managed datacenters. Windows Azure will help enable Mimvi to quickly provide clients and partners with the services they need in an increasingly competitive environment.
Microsoft and Mimvi are working together to enable companies to migrate mobile apps and back-end infrastructures to the Windows Azure cloud and/or the Windows Phone Store.
In addition to search and recommendations, Mimvi is using Windows Azure to build out a suite of products based on its technology, including MimviLink, a mobile advertising network that matches relevant mobile apps to content.
According to Kasian Franks, founder and CVO of Mimvi:
Our strategic technology advantage and relationship with Microsoft will serve Mimvi well. Windows Azure is a great match for Mimvi's growing technology needs.The mobile space is exploding with apps, and without good search technology and a strong cloud foundation to serve our results, we wouldn't be able to keep pace with the growing demand for our services.
The global smartphone app market is forecast to reach U.S. $100+ billion by 2017, according to Global Industry Analysts, Inc. Mimvi's search engine returns millions of mobile app and web app results and has indexed the more than 1.2 million mobile apps in the marketplace today. It's the only search engine that provides users access to "Amazon-like" recommendations for mobile apps specifically.
The announcement bodes well for both Microsoft and Mimvi. It gives Microsoft a strong strategic technology partner in the key search and recommendation area which will enable it to boost demand for apps on its Windows Phone Store and throughout its Windows Azure ecosystem. Likewise, it enables Mimvi to develop its search, recommendation, and other products for Microsoft's enterprise customers. There has been a lot of speculation around Mimvi's relationship with Microsoft, fueling a good deal of shorting activity. I have been saying for months that this is a solid relationship that will foster a great deal of revenue flow over time. I see this latest announcement as very good news for both companies and view them both as good investments given their current PPS.
In pre mkt newsletter from Greenbackers:
Greenbackers largest holding MIMV ecked out a gain again by dayend...Extending trending...
|Windows Azure Extends Mimvi Search and Recommendation Technology PR Newswire09:00am EST|
Examining VELA footing a little closer...Recall discussions plus NBT take following Dec 17f ,12mil funding announcement..
Following runup earlier in Dec, we're monitoring VELA for potential support around .07......Recall MNVO acquisition sparking new interest in the stock, along with 12mil funding...
Steady, Eddy trending chart
VelaTel Secures $12 Million Equity Funding From Ironridge Global @ .20 Share Conversion
Well I knew SOMETHING was in the works for additional equity capital for VelaTel. Today VELA announced it has closed a $12 million stock purchase agreement with Ironridge Technology Co., an institutional investor in the telecommunications sector.
Proceeds from the Preferred stock offering (convertible at 20 cents a share) will be used to fund VelaTel's acquisition of China Motion Telecom (NYSE:HK) Limited. Ironridge made its first payment of $600,000 for the initial 10% down payment called for under VelaTel's agreement to acquire 100% of the equity interest of China Motion.
More important, VelaTel projects that the remaining proceeds of Ironridge's equity funding will be sufficient for VelaTel to:
· Pay the remaining balance to acquire China Motion.
· Complete deployment and launch of VelaTel's wireless broadband networks in Croatia and Montenegro.
· Other strategic purposes on projects under development.
As we pointed out in our update on last Friday, the acquisition of China Motion furthers several of VelaTel's long term strategic goals in a big way:
1) China Motion's access to wholesale voice and data services using the wireless network resources of incumbent carriers China Mobile and China Telecom allows VelaTel to deploy its Wireless Data projects in mainland China at a fraction of the capital expenditures originally budgeted. Operating a "MVNO" or mobile virtual network over-the-top (OTT) of China Mobile/China Telecom's existing network at wholesale cost structure is PERFECT for the roll-out of the B2B wireless networks VELA is building in China with State Owned Enterprises (SOEs) New Generation Special Network (NGSN) and Aerostrong Company Limited (NYSE:CASC).
2) China Motion's experience and personnel in sales and marketing, customer service and billing solutions provides a platform to serve VelaTel's wireless broadband networks worldwide.
3) The acquisition creates tremendous synergies with VelaTel's Europe based subsidiary Zapna, which also focusses on long distance and roaming solutions that cater particularly to the frequent international traveler.
Under the Ironridge funding contract, VelaTel will sell Ironridge preferred shares valued at $10,000 per share, which is convertible into VelaTel's publicly traded Series A Common Stock at a fixed conversion price of $0.20 per share. Funding is subject to customary equity conditions and Ironridge is entitled to non-cumulative dividends and an embedded derivative liability (which we are seeking to better define later today BTW) upon early redemption or conversion as defined in the contract. VelaTel also agreed to file a customary S-1 registration statement to allow resale of the shares upon conversion.
"We are very grateful to Ironridge for the continued support they have shown VelaTel," stated VelaTel's President Colin Tay. "Ironridge recently completed payment of more than $1.3 million to our most important vendors under their liability for equity (NASDAQ:LIFE) program. They have now broadened their support by not only increasing the size of their investment, but structuring it in a manner that allows us flexibility to use the proceeds wherever they are needed most. We also appreciate the efforts of Mr. Luo Hongye, our lead partner in China as CEO of our VN Tech division and a co-founder of ZTE Corporation. Mr. Luo, as a leader in the telecom and green energy fields in China, was instrumental in bringing VelaTel and Ironridge together in this transaction."
NBT will get an update from VELA on how this latest equity deal affects their operating subsidiaries:
1. GO MOVIL
2. Novi-Net Croatia
3. Montenegro Connect, Montenegro
5. Sino Crossings
6. New Generation Special Network (NGSN)
7. Aerostrong Company Limited
8. VN technologies Co., Ltd.
9. China Motion, Ltd
We continue to use a $30 million to $40 revenue estimate for VELA in 2013-we will update this forecast (NBT's not VELA's) with management this week.
- VelaTel Secures $12 Million Equity Funding From IronridgeGlobeNewswire(Mon, Dec 17)
- VelaTel Acquires Hong Kong MVNO China Motion TelecomGlobeNewswire(Tue, Nov 27)
SUNNYVALE, Calif., Dec. 24, 2012 /PRNewswire/ -- Mimvi, Inc. (MIMV) announced today an agreement with Mashape, Inc., a San Francisco-based API (Application Programming Interface) marketplace to distribute Mimvi's mobile app search and recommendation APIs. A key component of the agreement is a revenue sharing plan for the distribution and monetization of Mimvi's APIs. The global distribution Mimvi's mobile app search and recommendation APIs serves a fundamental purpose. It provides developers access to world-class technology, enabling them to enhance their own projects and better serve their consumers' needs. This includes matching mobile apps to content consumed by their users for a richer mobile-first experience, or supplying mobile app search results to websites, mobile products and services.
Kasian Franks, Founder, Chairman and Chief Visionary Officer of Mimvi states, "Our friends at Mashape are doing great things to help the developer community, and Mimvi is proud to be part of that effort." Extending our API across the world through their network will only increase our search footprint and revenue opportunities."
Mashape's API Hub is a place where developers can easily consume APIs to integrate into their flagship products, and where existing APIs can be distributed across the developer community and monetized. Quoting their website, Mashape exists "... to unlock and facilitate the distribution and consumption of data and services."
"We are very excited to work with Mimvi and its partners. Search and discovery technology like theirs is the reason we built Mashape. The algorithmic technology behind Mimvi's search and recommendation offerings is unique and proprietary. To replicate it would be nearly impossible. It would require years of research and development work. Distributing Mimvi's API on Mashape will give developers around the world access to state-of-the-art mobile app search technology," says Augusto Marietti, CEO of Mashape.Mimvi and Mashape to Offer Mobile App Search API to DevelopersVelaTel Global Communications, Inc. (OTC:VELA)-OTC Markets
0.08 0.00(3.49%) 2:20PM E
SUNNYVALE, Calif., Dec. 27, 2012 /PRNewswire/ -- Mimvi, Inc. (MIMV) announces that alongside the new release of Mimvi App Search now in the Windows Phone Store, Mimvi is taking advantage of Microsoft Corp.'s Windows Azure cloud platform to extend its core technology to internal and external groups and partners in the Microsoft ecosystem. This strategic relationship with Microsoft allows Mimvi to further enhance and extend its proprietary algorithmic technology - the foundation of its mobile search, discovery and recommendations engine.
In addition to search and recommendations, Mimvi is using Windows Azure to build out a suite of products based on its technology, including MimviLink™, a mobile advertising network that matches relevant mobile apps to content.
Microsoft and Mimvi are also working together to enable companies to migrate mobile apps and backend infrastructures to the Windows Azure cloud and/or the Windows Phone Store.
Kasian Franks, Founder and CVO of Mimvi states, "Windows Azure is a great match for Mimvi's growing technology needs. The mobile space is exploding with apps, and without good search technology and a strong cloud foundation to serve our results, we wouldn't be able to keep pace with the growing demand for our services."
Mimvi's search engine returns millions of mobile app and web app results and has indexed the more than 1.2 million mobile apps in the marketplace today. It's the only search engine that provides users access to "Amazon-like" recommendations for mobile apps specifically. The global smartphone app market is forecasted to reach US $100+ billion by 2017 according to Global Industry Analysts, Inc.
"Our strategic technology advantage and relationship with Microsoft will serve Mimvi well," says Franks.
"Companies such as Mimvi that develop ways to approach mobile search and app recommendations can take advantage of Microsoft's scalable cloud solution. With Windows Azure, Mimvi can quickly build, deploy and manage its core mobile search and discovery technologies and applications across a global network of Microsoft-managed datacenters. Windows Azure will help enable Mimvi to quickly provide clients and partners with the services they need in an increasingly competitive environment," says Dan Sandlin, Manager Windows Azure Team at Microsoft.