Zong (previously Echovox) was founded in 2000 in Switzerland by David Marcus, initially as an SMS aggregator. Advent Venture Partners invested $7.5m in the business in 2007, when it had a fast-growing mobile media business and had launched a web service called SMSConnect, bridging the worlds of internet and mobile. The company had great potential, but needed growth equity to expand internationally, expand its technology offering and address the nascent digital goods market opportunity.
Advent specialises in backing founder-led businesses and built a real partnership with Zong, helping to turn the business into a genuine global leader before its eventual sale to eBay, which has now combined it with PayPal.
Founder and CEO
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