Jingle Networks Rings In The New Year With A $6.7 Million Funding Round
What’s not to like about free directory assistance? Investors are pouring yet another $6.7 million into Jingle Networks
, the company behind 1-800-FREE-411. The funding round was disclosed today in an SEC filing, and it brings the total amount raised by the company to almost $90 million.
The investors in this round were not disclosed in the filing, but previous investors include First Round Capital, Goldman Sachs, Hearst, and Liberty Associated Partners.
Jingle runs voice ads before giving out directory assistance numbers, and competes with GOOG-411. Last year, before the U.S. financial meltdown, it was looking to IPO, launched a broader voice ad network, and even hit profitability on a per-call basis.
The IPO talk stopped as soon as the advertising recession hit, and you’ve got to wonder how that voice ad network is doing now, and whether it is still profitable per call. I’d be surprised. If they were profitable, why would they have to raise $6.7 million now, on top of the$7.5 million they raised just last February. Maybe this one will get the company back over the hump and ready for an exit.
