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Motricity receives $50 million from Carl Icahn

Published
by
Devin Kent
on February 27, 2007
in News
. 0 Comments

Mobile content and solutions provider Motricity has received $50 million in funding from Carl Icahn, reports MocoNews.

“Carl has proven himself as one of the leading investors of all time, with an incredible ability to identify top performing companies and drive shareholder value,” said Ryan Wuerch, Motricity chairman and CEO. “This investment bolsters our balance sheet and positions us to continue to aggressively grow the business and consolidate the industry.” The $50 million brings them to $200 million in funding, with previous investors such as Technology Crossover Ventures, the Wakefield Group, Advanced Equities, and more.

Carl Icahn’s son Brett Icahn, an analyst with Icahn Associates, has joined Motricity’s board of directors as part of the deal. Motricity has also announced that Icahn will have “single-digit ownership” of the company.