End2End completes €20M equity financing from Draper Fisher Jurvetson ePlanet Ventures and others, names Tage Rasmussen as CEO

August 27, 2002

2 Min Read

AALBORG, Denmark -- End2End, the leading Mobile Application Infrastructure Provider (MAIP) in Europe founded in 2000, announced today that it has secured approximately € 20 million financing from existing and new investors.In previous rounds, End2End has raised € 38.7 million in equity, which has been used to design and built a carrier grade mobile applications infrastructure. The additional financing, consisting of debt to equity conversion and new equity, will enable End2End to further increase its managed service offering with new technologies such as Java, MMS and streaming media as well as accelerate the efforts to build relationships with the leading mobile operators and portals across Europe.Simultaneously, End2End announces the appointment of Tage Rasmussen as Chief Executive Officer. Tage Rasmussen has previously served as the Chief Operating Officer of End2End and as Deputy-CEO of Sonofon. “Mobile operators are realizing that they can significantly reduce the complexity involved in introducing and delivering mobile data services by partnering with Mobile Application Infrastructure Providers” said Rasmussen. “We are excited about the future prospects and look forward to supporting our mobile operator customers such as Orange to build increasing revenue streams from mobile data.” The business model of End2End, its track record the last two years and the massive growth potential related to mobile data applications have been determining factors in relation to Draper Fisher Jurvetson ePlanet Ventures’ investment. “Mobile Application Infrastructure Providers represent the future of mobile data services and will be required to manage and ensure the quality of data service delivery as mobile operators continue to focus on their core assets - the access network and ability to bill end-users,” said Mareza Larizadeh, Vice President of Draper Fisher Jurvetson ePlanet Ventures. “We believe that in the future, mobile operators and portals will rely on a handful of trusted partners for their application and content needs.”End2End Holdings Ltd.

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