Motorola Invests in Mobile Barcode Developer
Published on: 2nd Feb 2010
Note -- this news article is more than a year old.
Motorola, through its investment arm, Motorola Ventures, has announced an investment in Scanbuy, a developer of mobile barcode solutions. Motorola acted as lead investor and was joined by Masthead Venture Partners, Hudson Ventures and select private investors. Financial terms of the investment were not disclosed.
Scanbuy's "ScanLife" platform enables advertisers to provide digital information to consumers through the use of barcodes and camera phones. With ScanLife, businesses can place one- or two-dimensional barcodes on their product packaging or in a magazine ad or other type of media. By using their ScanLife-enabled camera phones to view the barcode, consumers can immediately access information such as product reviews, price comparisons and coupon offers.
Millions of people around the world already have ScanLife on devices using major operating systems like Android, BlackBerry OS, iPhone OS, Java and Symbian, extending the reach and power of the platform.
"Motorola has looked at this market very carefully and believes that Scanbuy has the best combination of technology and strong ecosystem partners in its space," said Reese Schroeder, managing director of Motorola Ventures. "Mobile barcodes are an extremely powerful tool for consumers, businesses and wireless providers, which makes this opportunity very exciting for Motorola. The camera quality, display capability and processing power of today's smartphones, coupled with advanced network speeds, now enable consumers and the advertising community to fully take advantage of mobile barcode technology."