Dubai VC to fund Zulubiz.com
Seattle, April 22, 2014
World Tech Sigma, a Dubai-based venture capital firm, has entered into a definitive agreement with Seattle-based Zulubiz.com to become the latter's principal funding agent.
Zulubiz.com has exclusive rights to a unique mobile marketing platform that connects consumers with businesses using mobile devices such as smartphones and tablets. The platform allows businesses to quickly and inexpensively set up an online storefront that is mobile optimised, has e-commerce solutions and is optimised for search engines, said a statement.
"It's remarkable that 92 per cent of adults own a cellphone while 94pc of small businesses (SMBs) are not mobile optimised, and 45pc of don't have a website at all. Zulubiz is poised to change all that," said Zulubiz.com founder and director Stewart Irvine.
"We're very excited to be building a relationship with a company that has the expertise to scale Zulubiz.com into a major player within the mobile marketing landscape. This will allow us to devote our energy to drive innovation for the benefit of businesses, and provide an income opportunity for our independent salespeople throughout the United States and beyond."
World Tech Sigma has committed to assisting Zulubiz.com in its goal of reaching 10 million people with its mobile marketing platform within the next five years, said the statement.
Zulubiz.com distributes its mobile storefront platform using the direct sales vertical and a sales force of independent distributors throughout the US.
World Tech Sigma is a global venture capital firm that invests in companies and people who turn visionary ideas into valuable and significant technology. - TradeArabia News Service