Mobli Receives $60M in Funding from América Móvil

November 6, 2013 11:18 by Clayton Reeves in Telecom, Venture Capital  //  Tags: , ,   //   Comments (0)

It's getting crowded in the mobile video and picture sharing space.  As reported in TechCrunch, Mobli, an Israel based picture/video sharing service and competitor to apps like Instagram, received a $60 million investment from América Móvil. América Móvil, if you remember, is the Latin American telecom giant led by billionaire Carlos Slim. The strategic investment will provide Mobli with access to América Móvil's millions of mobile users. In addition, the funds will allow Mobli to introduce a new "visual search engine."

“Mobli has developed a remarkable technology and this strategic alliance will allow América Móvil to bring value added experiences for its users throughout the Americas,” Carlos Slim recently said.

This isn't the first high profile backing Mobli has received - celebrities such as Leonardo DiCaprio, Tobey Maguire, and Serena Williams have already invested in the company, which is now valued at around $1 billion.

Read more from TechCrunch here.

Snapshot of mobli milestones:

Source: CrunchBase

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