Qype Raised €6.5m, Adds Vodafone as Investor

Qype Raised €6.5m, Adds Vodafone as Investor
Local user-generated reviews Qype raised €6.5 million in a second round of funding led by Vodafone Ventures (€3.5 million) and existing investors Advent Venture Partners, Partech International and Wellington Partners.

As part of the deal, Vodafone is expected to launch co-branded Qype applications in their main European markets: United Kingdom, Germany, Italy, Spain, Portugal, Netherlands and Ireland.

“Qype has emerged as the leading local reviews site on the web in Europe,” said Peter Barry, Head of Venture Group, Vodafone Ventures. “In the recent past we have seen Qype rapidly scale its presence both on the mobile and beyond Europe. We are delighted to back a key player in the location-based services and user reviews arena and we are looking forward to helping Qype accelerate its mobile business further and ultimately adding value to our customer.”

Qype was created in March 2006 and nowadays it has 600,000 businesses in its database, 1.5 million public reviews and records 17 million unique visitors per month on the web. However, its mobile footprint is quite small with just one million users. The first mobile app was launched in January 2009, first for the iPhone, then for Android and Blackberry.

In comparison French-based Tellmewhere has 900,000 mobile users and 1 million reviews and US-based Yelp has 38 million unique visitors (August 2010) and 12 million local reviews.

Tuesday, November 23rd 2010

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