VC splashes out on online flirt
Social networking site Flirtomatic flashes its eyes at £2m investment
Seraphim Capital, the government-backed investment fund, has ploughed £2m into a website dedicated to flirting.
Flirtomatic, a saucy adult-only social networking site, enables people to chat and flirt online and by using their mobile phones.
The company says that its users visit the site an average of eight times per day and that viewing times are longer than sites such as Facebook.
With over 380,000 mobile users and 100m page impressions its owner, Handmade Mobile Entertainment, is now planning international expansion.
It is the second time the company has received backing, having gained funding from Doughty Hanson in in August 2005. Mark Curtis, chief executive of Flirtomatic, said: “The VC funding will speed up our international expansion over the next 12 months, launching localised services across selected territories.
“Having already proven our business proposition in the UK, international expansion is top of the list for the year ahead, and already we have seen clear evidence of this demand internationally, from users and mobile operators.
“The financial investment will also enable the brand to further develop our ability to offer targeted advertising opportunities on both the web and WAP.”
Mark Boggett, investment director, Seraphim Capital, said: “Our research demonstrated that, based on current monthly page impressions, Flirtomatic is already one of the top ten mobile internet sites in the UK.”
© Crimson Business Ltd. 2007