Missing: Mig33's Product Demo & Case Studies
Promote your product offering to tech buyers.
Reach 1000s of buyers who use CB Insights to identify vendors, demo products, and make purchasing decisions.
Missing: Mig33's Product & Differentiators
Don’t let your products get skipped. Buyers use our vendor rankings to shortlist companies and drive requests for proposals (RFPs).
Latest Mig33 News
Apr 30, 2014
April 30, 2014 0 It’s a curious piece of news: Foxconn , a hardware manufacturer that employs legions of workers to make smartphones for Apple and Samsung, has invested US$2.2 million into Project Goth, the Singapore-based parent company behind microblogging app mig33 . Foxconn will receive existing equity in mig33 and get the rights to new shares, which will be available once mig33′s completes its listing on the Australian Securities Exchange. Once it succeeds, Foxconn could invest another $7.4 million in the company, ending up with an “indirect interest” of 19.9 percent in mig33, which currently has 3.8 million monthly active users. The partnership raises questions about mig33′s next move. The company’s acquisition of Alivenotdead.com , a site which connect artists with fans, felt intuitive since its business model involves being an engagement tool for celebrities and their fans. Foxconn, on the other hand, makes hardware, and one immediate thought is that mig33 might be considering a move into the handset business as a means to give its web and mobile services more reach. Google employs such a tactic, and Facebook was once considering it too. Mig33 is unlikely to design its own devices though, given the labor, effort, and capital involved. But there are many other ways to get into hardware. Mig33 could utilize Foxconn’s relationships with mobile phone brands to get its app pre-installed on handsets. It could also white-label handsets made by Foxconn and sell it under the Mig33 brand. The Singapore company has revealed few specifics about its future plans with Foxconn. The press release says it will establish a development center in Taiwan, where Foxconn is based, to focus on “business development efforts” and “extending the company’s reach into the mobile ecosystem”. Steven Goh, founder and CEO of the company, says there’s a chance it could be on tens of millions of phones by 2015. What does the Fox say? Foxconn’s motivations for investing in mig33 is also unclear. But we do know that it plans to embark on an “eight screens, one network, and one cloud strategy” , which simply means it will play a greater role in both the hardware and software design of the devices it makes. With its dependence on Apple and Samsung, the manufacturer will certainly not risk antagonizing its biggest partners by selling its own branded phones. But it has some leeway to develop software, and that could explain its investment into mig33. Last year, it employed 3,000 engineers for a software development facility to build Firefox OS HTML5 apps, and we shouldn’t be surprised if it starts getting mobile app developers on board. Foxconn is also diversifying away from its low-margin consumer hardware business. It is transitioning into making machine-to-machine devices and big data, and that could explain its involvement in a $3.2 million round in smart video surveillance startup KAI Square. It has also jumped into providing equipment and design services for data centers, and started a hardware startup accelerator , a move that could help it spot a future billion-dollar company. Hardware manufacturing will continue to be the mainstay for Foxconn though, as it is currently deliberating whether to build more factories in US and Indonesia. Editing by Josh Horwitz, photo by Matt Wakeman via Flickr Facebook Conversation
Mig33 Web Traffic
Mig33 Frequently Asked Questions (FAQ)
When was Mig33 founded?
Mig33 was founded in 2003.
What is Mig33's latest funding round?
Mig33's latest funding round is Corporate Minority.
How much did Mig33 raise?
Mig33 raised a total of $34.6M.
Who are the investors of Mig33?
Investors of Mig33 include Foxconn, Accel, Redpoint Ventures, DCM Ventures, GREE and 5 more.
Discover the right solution for your team
The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.