Tribune Ventures Invests in Proprietary
Platform for Mobile Communications
CHICAGO, February 5, 2001 -- Tribune
Ventures, the strategic investment unit of Tribune Company,
announced today that it has invested in Upoc, a proprietary
software platform for mobile e-mail, text and voice messaging.
Based in New York City, Upoc offers a wireless
ASP (Application Service Provider) platform that allows client
companies to provide mobile information distribution and commerce
to their customers. The technology allows text and voice messages
to be sent to people through chat groups created around similar
interests, and enables users to create and distribute information
to a targeted audience via any wireless device.
"Upoc is an innovative company that is
developing a cutting-edge product in one of the industry's
most explosive areas," says Matt Burnham, Tribune Ventures
manager. "Our strategy is to partner with emerging companies
that are compatible with how we see the market developing.
Upoc will help us further build our wireless Internet strategy,
while developing a product that allows busy people to interact
with colleagues anywhere, anytime."
:: :: ::
TRIBUNE (NYSE:
TRB) is one of the country's premier media companies,
operating businesses in broadcasting, publishing and on the
Internet. It reaches more than 80 percent of U.S. households,
and is the only media company with television stations, newspapers
and Web sites in the nation's top three markets. Tribune media
span 23 major-market television stations, including national
superstation WGN-TV; 12 market-leading daily newspapers, including
the Los Angeles Times, Chicago Tribune and Newsday; and news
and information Web sites in 18 of the nation's top 30 markets.
Upoc is the leading developer of cross-platform,
carrier-agnostic mobile community technologies for reaching
consumers across any wireless device. Upoc enables marketers,
retailers, consumer goods and media companies to instantly
reach their prime audiences with mobile communities, content,
commerce and targeted promotions. Launched as the first Start-up
In Residence at Ericsson Cyberlab, Upoc has 45 employees and
is based in New York City.
Tribune Ventures, the strategic investment
unit of Tribune Company, invests in and partners with emerging
new-media and technology companies across the U.S. that build
and support Tribune's media businesses. In addition, Tribune
Ventures is an active investor in early-stage Internet and
technology companies based in the Midwest and on the East
Coast. Tribune Ventures' public portfolio of equity investments
includes AOL Time Warner, Excite@Home, iVillage, Lightspan
and 24/7 Media. Private holdings include Dotcast, Dynamic
Trade, The FeedRoom, iExplore and ReplayTV. |
