CORE CAPITAL PARTNERS INVESTS IN MOBILE CONTENT PUBLISHER LIMELIFE
Tom Wheeler Joins Board of Directors
Washington, D.C. (May 24, 2007) - Core Capital Partners, a leading, Washington, D.C.-based, venture capital firm, announced today its investment in Menlo Park, Calif.-based LimeLife Inc., the only mobile consumer software publisher focused exclusively on content for women. The investment of $3.9 million will be used to continue the company's development of best-in-class mobile software products and technologies.
On May 23, LimeLife and AT&T announced that they had launched "Rachael Ray™ Recipes on the Run" featuring 30-minute recipes from celebrity cook and Emmy-nominated daytime host Rachael Ray. Rachael Ray joins other brand-name media such as Time, Inc's In Style magazine as exclusive content sources for LimeLife. The company will shortly announce additional instantly recognizable women-oriented content to its lineup.
"LimeLife combines innovative mobile technology with a unique understanding of the female consumer to create a new model for targeted programming," says Tom Wheeler, managing director at Core Capital Partners. "We believe that targeted mobile content represents an extension of the same concept which made cable television so successful." Wheeler, who is the former President and CEO of the Cellular Telecommunications and Internet Association (CTIA) and the former President of the National Cable Television Association (NCTA), will join the LimeLife Board of Directors.
"We are thrilled to have Core Capital as an investor and to have Tom Wheeler join our Board of Directors," says Kristin McDonnell, CEO, LimeLife. "Their deep media and wireless communications expertise will be an enormous asset to us as LimeLife continues to launch high-profile mobile products to serve the female market."
Core has successfully invested in numerous companies that are building the next generation of infrastructure in the telecommunications industry. LimeLife is the first content company Core has invested in which takes advantage of that infrastructure and is part of Core's longer term commitment to the growth of consumer mobile content.
LimeLife was named by IDC as one of the Ten Emerging Wireless Players to Watch in 2006 and received the Red Herring 100 North America award in 2007. Over the last two years, LimeLife has forged strong content partnerships with leading consumer brands and distribution relationships with the major U.S. carriers. LimeLife has also built an innovative technology platform to launch networked mobile applications, such as In Style Mobile which was cited in Mobile Insider as "the best magazine execution…on mobile."
About Core Capital
In business since 1999, Core Capital is a Washington, DC-based venture fund with over $350 million under management. The firm invests in a wide range of technologies, with a particular focus on telecommunications hardware and software, wireless applications, enterprise software, network security, e-commerce, logistics and tracking, energy and power management in addition to web and communications services. Sample portfolio companies include Sourcefire, NexTone Communications, InPhonic, buySAFE, Roundbox, Trust Digital, Trinity Convergence, and IXI. For more information, please visit www.core-capital.com or email us at firstname.lastname@example.org.
About LimeLife, Inc.
LimeLife Inc., based in Menlo Park, California, is the only publisher of wireless content exclusively focused on the women's market. The company's products are forging innovations in the mobile industry based on unique insights about what women seek in mobile entertainment. Products include lifestyle tools, wireless games, fashion wallpapers and original daily text messages. LimeLife distributes its mobile offerings through the company's relationships with multiple wireless carriers, including AT&T, Sprint, T-Mobile, and Verizon Wireless as well as from the company's web site at www.LimeLife.com.
Contact for LimeLife, Inc.: