InfoSpace’s And AIRPLAY News

InfoSpace’s mobile strategy

As most of you know, InfoSpace has closed the Elkware Studio earlier this year and their Q3 report ended with the following message;

“We’ve taken quick action to address the disappointing loss of business, aligning costs with future revenues to continue building on the strong foundation we have in mobile technology and online and mobile discovery,” said Jim Voelker, Chairman and Chief Executive Officer of InfoSpace, Inc.

Unfortunately, Jim Voelker’s closing statement says nothing about mobile games or content. The $ 57.8 million restructuring charges has the following breakdown according to MocoNews:

  • Employee separation costs $ 6,321
  • Recovery of previously expensed share-based awards due to forfeitures from employee separation (1,054 )
  • Impairment of goodwill 31,903
  • Impairment of definite-lived intangible assets 12,623
  • Losses on contractual commitments 5,621
  • Impairment of long-lived assets 1,019
  • Costs of abandoned facilities 1,356
  • Total restructuring charges $ 57,789

More details are in the official SEC report. Personally, I have always enjoyed working with the InfoSpace mobile games, so I hope this doesn’t mean the end for them.

AIRPLAY RECEIVED $ 14 M FUNDING

Airplay, a US based company focused at mobile games and video (which is the companies’ main drive) secured $ 14 million in its latest funding round. Investors for this round of funding where Motorola, Qualcomm, JK & B Capital, Oneset Ventures and Redpoint.

The funding also brings a new director to the board of Airplay. Ali Shedman will fulfill this role on behalf of JK & B Capital.

“The funding now provides us with the financial and strategic muscle required to execute on this massive new market opportunity,” said Morgan Guenther, chairman and CEO of AirPlay.

“AirPlay has a completely unique and transformative offering that stands to change the way we experience traditional television,” said Ali Shadman of JK and B Capital. “We believe the possibilities are endless for growing their service across many different types of content programming and live events.”