I started hearing a different music from Mudo’s employees in the last couple of months, after the MWC 2008. Modu has an interesting idea but would the $7M be enough for the R&D completion, production, operation, marketing and sales?
It makes you wonder if for this competitive and dynamic market a low budget penetration strategy is recommended…think about the iPod massive global campaign to get into the music players market in 2005…It seems like a successful market penetration would need deeper pockets.
After raising a gigantic figure of $100M this round is not as promising but is probably crucial for the next period. Nevertheless, raising any dollar at this challenging time is impressive.