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$10 million for mobile media company BuzzCity
BuzzCity, a mobile networking and advertising start-up based in Singapore, on Thursday announced a $10 million investment by South African media company Naspers.
BuzzCity has developed a mobile social-networking product called MyGamma, but it's not hoping to take on Facebook. MyGamma is geared toward "unwired" customers--those who have a mobile device but lack access to either a PC or a reliable broadband connection. That's probably why it attracted the attention of Naspers--market research firm Point Topic estimated late in 2007 that there were fewer than 300,000 broadband Internet subscriptions in South Africa out of a … Read more
