Qeep Secures Multi-Million Series B Financing

Online, December 16, 2010 (Newswire.com) - Today, BLUE LION mobile, developer of the mobile social entertainment network qeep, announced it has closed a multi-million euro B round. The round was led by French VC XAnge and co-invested by the KfW. Additionally, existing shareholder Bertelsmann Digital Media Investments (BDMI), the investor of the Series A in 2007, also participated in the Series B.

The investment was made in view of the significant growth of qeep, the mobile gaming and entertainment network. Qeep is compatible with over a thousand Java-enabled devices and has already reached a wide mass market; in fact more than six million users have registered on qeep so far. Every month the company counts over 500 million mobile page impressions and more than 1.5 million multiplayer game participations.

Investors were attracted to qeep because of its focus to reach the mass market and create a unique platform for mobile multiplayer gaming. Bernhard Schmid, partner of XAnge stated, "The concept and its growth to date has been impressive. We believe that with our know-how and financial resources we can continue to accelerate qeep's development."

Urs Cete, principal of BDMI, added: "Presently qeep gains almost 10,000 new users every day and is able to monetize them in varied ways. In mobile this is rather unique."

The funds raised will be mainly invested in the product development and international expansion of qeep. Christian Schulte, co-founder of qeep and managing director of BLUE LION mobile, sees an enormous opportunity: "We're pleased to have XAnge and KfW as strong new partners on board. The investment will enable us to enter new markets and to develop qeep in the most innovative way."