A new forecast from Forrester Research credits greater online spending by Canadians, lower shipping costs and more selection for the spending increase.
The mobile transactions and notifications company will use the funding for product development, marketing and customer acquisition for its voice-based e-commerce platform.
Mobile transactions and notifications company UnWired Buyer Inc. has secured $6.1 million in Series B funding. Gefinor Ventures led the round; participants included Accent Texas Fund I LP, Aegis Texas Venture Fund, DFJ Mercury and other investors.
UnWired Buyer says the funding will be used for product development, marketing and customer acquisition for its voice-based e-commerce platform. "We believe UnWired Buyer will be a significant player in the market for mobile commerce, which is expected to grow to $10 billion by 2010," contends Wes Cole, principal at Gefinor Ventures. "The company`s system brings mobile e-commerce to the mass market, allowing Internet retailers to reach new and existing customer segments¡Xanyone who carries a mobile phone."
The company launched its initial mobile e-commerce product, UnWired Buyer ƒnfor eBay, in September. The system enables eBay customers to wirelessly participate in the final minutes--when more than half of bidding activity occurs--of an online auction. Last month eBay introduced eBay Phone Alerts, a mobile bidding technology based on UnWired Buyer`s mobile transaction technology.
"This round of investment will help increase the value we bring to the eBay community and continue to aggressively grow our user base," says Indraj Gill, UnWired Buyer CEO.