and advertising founded london uk 2001 key people alex moukas chairman products velti inspire velti excite services mobile crm loyalty solutions large scale promotions for mobile operators website www.velti.com velti is a mobile marketing company offering its solutions to major mobile operators and brands . the company was founded in 2001 went public in london in 2006 1 and nasdaq in 2011 . 2 in 2013 blackstone one of the largest private equity groups with more than 300 billion under management acquired the assets of velti and the company was taken private . history edit velti was founded in 2001 by alex moukas 3 and chris kaskavelis 4 as a software and asp provider serving the telecommunications industry . the same year nicholas negroponte then the laboratory chairman of massachusetts institute of technology s media lab joined the company as a non executive director . in 2002 velti gained vodafone as a customer . by the end of that year the company had reached 35 employees . after a 2006 initial public offering on the london stock exchange s aim market 5 velti further expanded its u.s. operations with the opening of an office in new york . a san francisco office was created the following year . velti was one of the 10 best performing ipos in london stock exchange s aim in 2007 6 beginning in 2007 velti entered into a series of joint ventures and partnerships with the interpublic group to create ansible a mobile marketing joint venture . 7 in 2008 velti opened a new office in beijing and made an investment in casee . 8 in india velti partnered with ht media limited india s second largest media group on a mobile marketing joint venture called ht mobile solutions . 9 2008 also saw the opening of a new velti office in moscow . 10 in 2009 velti announced the acquisition of ad infuse a provider of personalized mobile advertising in the u.s. increasing the company s headcount to more than 400 including more than 200 technology staff . 11 in 2010 the company announced the acquisition of mobclix . 12 a second 2010 acquisition added media cannon 13 a developer of mobile advertising tools and technology . by the end of 2010 velti had grown to more than 500 employees in 30 countries . in january 2011 velti completed an initial public offering of 12 million common stock shares on nasdaq under the trading symbol velt . the ipo raised approximately 150 million according to roamdata boston based subsidiary of ingenico . 14 velti demonstrated a dramatic revenue growth following its london and nasdaq listings . its revenues grew from 90m in 2009 to 116m in 2010 to 189m in 2011 to 270m in 2012 . 15 sale to blackstone and delisting from nasdaq edit in late summer 2013 velti was forced to write down nearly 111 million of ar due to the crisis in greece and cyprus reducing its headcount by almost 20 % and placing mobclix on the chopping block to raise spare cash . these actions led to a severe stock drop . 16 on november 4 2013 velti sold its assets to gso the credit division of blackstone . the us subsidiary asset sale was done under chapter 11 while the all subsidiary including the us and the parent company continued normal operations . 17 on december 16 2013 velti voluntarily de listed from the nasdaq market in order to complete the sale of assets to blackstone the voluntary decision to delist from nasdaq was taken following the company s review of several factors including its previously disclosed noncompliance with the minimum bid price requirements of nasdaq . . 18 velti shares are now traded on the otc market . 19 velti currently operates in 10 countries is profitable and its main customers include vodafone t mobile orange movistar airtel pepsico mbc and nestle . 20 velti does not provide financial statements since 2013 . 21 references edit https gigaom.com 2006 04 10 velti to raise 17 million in ipo on aim http www.nasdaq.com article the best ipos so far of 2011 cm61740 alex moukas of velti plc executive profile . insiders.morningstar.com . retrieved 2011 03 18 . chris kaskavelis profile forbes.com . people.forbes.com . retrieved 2011 03 18 . rafat ali rafatali 2006 04 10 . velti to raise 17 million in ipo on aim . moconews . retrieved 2011 03 18 . http www.velti.info press release pdfs velti % 20among % 20the % 20ten % 20best % 20performing % 20ipos % 20on % 20the % 20london % 20stock % 20exchange % 20june % 2021 % 202007.pdf ipg launches mobile agency ansible . clickz . retrieved 2011 03 18 . media asia 23 may 2008 08 26am 2008 05 23 . casee receives us 6m investment from velti brand republic news . brandrepublic.com . retrieved 2011 03 18 . cs1 maint multiple names authors list link ht media forms mobile marketing jv with velti plc corporate news . livemint.com . 2008 11 21 . retrieved 2011 03 18 . velti plc announcements velti plc trading statement . investegate . retrieved 2011 03 18 . mediapost publications mobile marketing company velti acquires ad infuse 05 13 2009 . mediapost.com . retrieved 2011 03 18 . velti acquires mobclix . marketwire.com . 2010 10 01 . retrieved 2011 03 18 . dean takahashi 2010 06 03 . velti acquires media cannon to expand its mobile ad business . venturebeat . retrieved 2011 03 18 . mages kenneth g. 2011 01 28 . mobile ad firm velti raises 150 million in u.s. ipo roam data smart mcommerce news . mcommerce.roamdata.com . retrieved 2011 03 18 . http www.velti.com press release mar 12 12.php edwards jim 2013 09 02 . how velti one of the largest mobile ad companies on the planet lost 130 million . businessinsider . retrieved 2013 10 16 . velti u.s. unit files for bankruptcy protection in delaware . bloomberg . http investors.velti.com releasedetail.cfm releaseid 809980 http www.otcmarkets.com stock veltf quote http www.velti.com mobilemarketingoperator.php http www.velti.com 20141105170152763.pdf retrieved from https en.wikipedia.org w index.php title velti & oldid 702115286 categories media companies of the united stateshidden categories cs1 maint multiple names authors 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