Blyk Strikes Dutch Vodafone Deal, Goldman Sachs Invests

LONDON -(Dow Jones)- Blyk, the advertising-funded mobile phone network, Wednesday said it was expanding into the Dutch market and had secured additional funding from Goldman Sachs and Kuwait's Industrial Financial Investments Company.

Co-founded by a former president of Finland's Nokia, Pekka Ala-Pietila, and marketing veteran Antti Ohrling, Blyk has already launched in the U.K., giving 16- to 24-year-olds free text messages and calls in return for viewing advertising messages.

Blyk has chosen Vodafone Group to host its mobile phone network in the Netherlands and will launch the service in the second half of 2008.

Investment bank Goldman Sachs and Kuwaiti IFIC have also taken an undisclosed stake in the company, which already has funding from Sofinnova Partners and other private investors.

-By Daniel Thomas, Dow Jones Newswires; 44-20-7842-9264; dan.thomas@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 30th January 2008