Verod partner Spinlet on mobile application

Nigerian-based emerging markets investment firm, Verod Capital Management Limited is partnering Spinlet Mobile on music application.

Executive Director, Verod Capital, Mr. Eric Idiahi, who confirmed this at the weekend, said that the company’s investment in the emerging digital music application maker, Spinlet Mobile is undisclosed in the main time.

He also said that this investment comes at a critical time to support the launch of the Finland-based company’s new enhanced service, which will predominantly service the fast growing mobile markets of Africa, Asia, Eastern Europe and the Commonwealth of Independent States.

“There is a strong demand for music download services in emerging markets but consumers have limited access to portals from where they can legally download original music tracks from local and international artists,” he said, stressing that Spinlet is ideally placed to source the content and deliver it to millions of underserved consumers worldwide across the mobile and web channels.

According to him, Spinlet’s current application enables consumers to remotely store, manage and listen to music from anywhere using any mobile device.

“Using the Spinlet music cloud portal, users can also create playlists, stream and seamlessly synch music tracks across devices as well as share their favorite titles using social networking sites, like Facebook,” he said.

Idiahi noted that the enhanced version of Spinlet to be launched next month will combine the best of elements of the music cloud’s existing service with mobile downloading capabilities available on the latest generation of smartphone platforms.

Spinlet’s new application, he said, would be available for major mobile operating systems including Android, Blackberry, Symbian 60, Windows Phone 7 and popular Java-enabled mobile phones.

Equally speaking, the chief executive officer, Verod Capital, Mr. Danladi Verheijen pointed out that Spinlet could be the first acquisition of a leading European mobile technology start-up by a Nigeria-based investment firm.

“We are extremely excited about the potential to leverage Spinlet’s technology across large African markets, as well as support the company’s growth in other parts of the world,” he said, emphasising that the company is seeking distribution and affiliate partnerships with local mobile service operators and original equipment manufacturers to expand availability.

Even as Spinlet is working with leading music labels in Africa, Europe and Asia to further develop its portfolio of localized music catalogues.

ITRealms Online recollects that the firm founded in 2006 by Sami Leino and Ville Leino in Finland, Spinlet started out focusing on building a strong Internet Protocol (IP) portfolio and launched their first cloud-based music service in 2010.

Going forward, Spinlet says it intends leverage social media integration, consumer recommendations and viral product features to drive sales in emerging markets.

Remmy Nweke:
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