Smilebox Receives $2 Million in Series B Follow-On Funding to Launch European Expansion
Redmond, WA (MarketWire) Feb. 24, 2010 –- Smilebox Inc.(www.smilebox.com), a global photo services company, announced today it has received $2 million in follow-on funding to its Series B round in December 2007. The funding will be used to drive the company's expansion into the European market.
Building on its strong distribution growth and established business model in North America, Smilebox will offer a fully localized version of its service for top European markets starting in the second quarter of 2010. To date, more than 10 million customers have installed Smilebox and 102 million creations have been played back worldwide. Yannis Dosios, former vice president of marketing at the company's Redmond, Wash. headquarters, will lead its international expansion efforts from offices in Athens, Greece as vice president of European operations.
"Our expansion to Europe is an integral part of our mission to be the worldwide leader in celebrating, sharing and preserving life's moments," said Andrew Wright, founder and CEO of Smilebox. "We look forward to bringing the Smilebox brand and experience to customers around the world."
"Europe represents a large opportunity for Smilebox. The top five EU markets alone have close to the same number of broadband households as the United States, and digital camera penetration rates are very high, yet competition is still fairly limited," said Dosios. "Smilebox will offer European consumers a unique service that combines high-quality digital designs, an easy drag-and-drop user experience, and the flexibility to share all their personal media in any way they choose," he added.
About Smilebox Inc.
Founded in 2005 by Andrew Wright, Smilebox is the leading way friends and families celebrate, share and preserve special moments in their lives through photos, videos and music. Since the service's launch in June 2006, more than 10 million people have installed Smilebox and more than 102 million Smileboxes have been played worldwide. Smilebox is the only service that supports all personal media (photos, videos, music), all content types (ecards, invitations, slideshows, scrapbooks, collages, photobooks and postcards) and all sharing methods (email, print, burn to DVD, save to photo frame, blog and post). Smilebox is a global, privately held company with headquarters in Redmond, Wash.