First service, “Crush or Flush,” yields 150,000 customers in first four months, Lightspeed Venture Partners, Frazier Technology Ventures to fund further expansion
June 5th, 2007
IceBreaker, Inc., a pioneer in mobile social software, announced today that the company secured $7.2 million in financing co-led by Frazier Technology Ventures, a leading Pacific Northwest venture firm with highly relevant entrepreneurial and mobile operating experience, and existing investor Lightspeed Venture Partners, one of Silicon Valley’s leading early stage venture firms. IceBreaker will use the funds to drive consumer marketing, new product development and expansion of its Beijing research and development office.
Crush or Flush™ is the premier mobile social networking application from IceBreaker that provides an easy way to flirt, chat and meet real people with similar interests in their area – from their cell phone or PC.
“It’s a pleasure to reinvest in IceBreaker,” said Jake Seid, General Partner of Lightspeed Venture Partners. “Since the last round of funding, the company successfully brought Crush or Flush to market proving that there’s pent up demand for connecting people through the world’s most ubiquitous device.”
With a growing and active member base, Crush or Flush reached 20 million monthly page views and more than 150,000 registered mobile members 120 days after launch. Nearly 100 percent of members visit the service through their cell phones, with members using the service on average of 2x per week.
“We’re excited about Crush or Flush’s rapid customer traction,” said Peter Zaballos, Vice President at Frazier Technology Ventures. “IceBreaker’s platform-approach to delivering easy to use and engaging mobile solutions positions the company powerfully in the mobile social software market.”
“It’s thrilling to see Crush or Flush being adopted so quickly as a mobile offering on some of North America’s leading carrier and operator decks,” said Michael Robinson, CEO of IceBreaker, Inc. “With an average of 20 minutes per session, Crush or Flush drives data usage and revenue for our partners, and builds a stable fast growing community for members.”
About Crush or Flush™
Members create picture profiles with tags and personal descriptions so that others can see who they are and what their interests are. Members then browse picture profiles by gender, age, location, and interest. If they find someone they like, they ‘crush’ them. If not, they ‘flush’ them. When two people like each other, they are notified of their mutual crush and can send anonymous text messages to each other without giving up any of their personal information. Further contact is up to them. Members will never know if they have been flushed, saving embarrassment for all. Crush or Flush is available through the mobile web on all cell phones, carriers and operators across the U.S.
About IceBreaker, Inc.
Founded in 2005, IceBreaker, Inc. is the Washington-based company that helps people connect through mobile social software that is engaging and easy to use. Crush or Flush is IceBreaker’s flagship product – a fun, safe, and easy to use mobile social networking platform that helps people chat, flirt, and meet people through their cell phones.
About Lightspeed Venture Partners
Lightspeed Venture Partners combines extensive venture capital and operating experience to assist entrepreneurs in creating industry-leading technology companies. Lightspeed manages $1.3 billion of committed capital and focuses on investments in the US, Asia, India and Israel. The firm’s partners have invested in more than 100 technology companies over the past two decades and have contributed to the success of market leaders including Blue Nile, Brocade, Ciena, Doubleclick, eHealth, Galileo Technology, Growth Networks, Informatica, Kiva Software, LightLogic, Maker Communications, Metasolv, Phone.com, Quantum Effect Devices, Riverbed, Sirocco, Transmeta, Virsa and Waveset. For more information, please visit www.lightspeedvp.com.
About Frazier Technology Ventures
Frazier Technology Ventures (FTV) is a Seattle-based, early-stage venture capital firm focused on investments in wireless, internet services, software and technology infrastructure companies. The partnership helps entrepreneurs build category-defining companies by leveraging their executive operating and entrepreneurial backgrounds from more than a dozen companies including Apple, C-Cube, EdMark, Intel, LSI Logic, Metapath, Microsoft, RealNetworks and Visio. For more information, please visit www.fraziertechnology.com.