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Loop Mobile Enters India Though JV With Radical SoftNet

By Nikhil Pahwa - Sun 10 Feb 2008 11:29 PM PST

More action on the mobile community front: Loop Mobile (ASX: LPM), a mobile community venture headquartered in Sydney, Australia, has signed a Memorandum of Understanding (MoU) for a joint venture with Radical SoftNet, a subsidiary of India based Telemart Communications. Radical SoftNet will contribute $500,000 to the JV, in which it will own 51 percent, and will distribute and operate Loop’s MOKO mobile community service in India.

Telemart is, according to the release, the exclusive distributor of Samsung handsets in India, with over 40,000 retail channel partners. The MOKO mobile community - accessible here - will be customised for the Indian market for integrated online and mobile services. It is operational in MOKO, across 3 Mobile and Virgin Mobile (NYSE: VM). Loop also provides white-label mobile community services to Telstra (Australia) and UK based broadcaster ITV (LSE: ITV). Loop Mobile’s CEO and Managing Director, Martin Hoffman appears to be buoyed by the rapid uptake of mobile services in India, notwithstanding the fact that non-voice services constitute less than 10 percent of operator revenues, and most mobile Internet usage is limited (though not restricted) to operator portals. I just checked out MOKO via my mobile—appears to be a dating community, with a chat lounge and music.

Posted in: Mobile, Social Media


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