Cellebrum Goes In For Pre-IPO Rebranding?
By Nikhil Pahwa - Fri 30 Nov 2007 03:08 AM PST
Spice Group mobile value added services (VAS) company has undergone a branding revamp: the company has changed its name as Spice Mobile VAS, and will be operating in three verticals - mobile marketing, social networking and community services and product innovation and management, reports Financial Express. Cellebrum is backed by MCorpGlobal, and had got $15 million as first-round funding from Lehman Brothers. As per the report, they have 14 IPRs to their name, and post rebranding, intends to focus on creating new products, opening research and development (R&D) centers across India. The company employs around 400 people. It had been reported earlier this year that the company intends to go for an IPO this fiscal, so this must be pre-IPO rebranding exercise. Earlier this year, Spice Communications had raised Rs. 528 Crore via an IPO, before which they, prior to which they had sold stake to Lehman Brothers and Spinnaker Investments. I wonder if there’s a stake sale in Spice Mobile VAS in the offing.
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