Welcome back to Baby Breakerdom! This week's quest to find budding Rule Breakers shows that mobile music is about more than just the iPod, and that Rule Breakers are often globetrotters.
We begin the week with Groove Mobile, a start-up that specializes in software for delivering music to mobile phones. Sprint Nextel (NYSE: S ) is among the companies using Groove's software for its music store, which offers downloads from EMI Group, Warner Music (NYSE: WMG ) , the Beggars Group, and the Digital Rights Agency, according to VentureWire.
What's more, Groove is at the center of a booming business: This week, ABI Research released a paper that showed the total market for full-track music downloads to mobile devices grew by 2,000% during 2005. The researcher says that the total market is expected to reach $9.3 billion by 2011.
Accordingly, Groove is attracting investors faster than a cat at the Westminster Dog Show. The firm raised $8.5 million in additional funding earlier this month (link opens a pdf file). Participating investors included Egan Capital, Charles River Ventures, Kodiak Venture Partners, and Star Ventures. To date, Groove has raised $20 million in capital.
Next up is Intel (Nasdaq: INTC ) . Or, more specifically, Intel Capital. The investment arm of the chip maker has raised $50 million for investments in Brazil, according to VentureWire. But this isn't all that new for Intel Capital. It has invested more than $35 million in 13 start-ups in Brazil since 1999. Frankly, I can understand why. David Gardner and I teamed to select a Brazilian firm for our entry in the Fool's inaugural global stock report, Around the World in 80 Minutes. You can find it, and our selection, here. And for more on the merits of global investing, check out fellow Fool Stephen Simpson's recent feature story on the subject.
Once again, there were no Baby Breaker public offerings this week, which means it's time to say goodbye. See you back here next Friday, when we continue the quest to find the next ultimate growth stock.
For more Rule Breaking Foolishness:
- Check in with last week's infants.
- Be early. You'll be wealthier and wiser as a result.
- Rule Breakers are everywhere. Even overseas.
Please join us tomorrow at Fool.com for an important announcement.
Netflix.Marvel. AOL. Starbucks. Find out how David Gardner landed these and other multibaggers by taking atest driveof Motley Fool Rule Breakers today. You'll also learn why our analysts are smashing the market by more than 25% as of this writing. All you have to lose is the prospect ofbetter returns.
Fool contributorTim Beyerswould love to take his wife to Brazil someday. Unfortunately, kids don't babysit themselves. How's that nannybot coming along, iRobot? Tim didn't own shares in any of the companies mentioned in this story at the time of publication. You can find out what is in his portfolio by checking Tim's Foolprofile. The Motley Fool has an ironcladdisclosure policy.