Dear Shouters, we’re happy to announce that Shout’Em just secured 350.000 euros of seed capital from the Bicro seed fund. The investment will be used to further improve our hosted microblogging service, as well as develope native Shout’Em mobile applications for the Apple iPhone, Windows Mobile and Android platforms. This will ensure the mobile focus of Shout’Em. Also, thanks to the funding, we’ll be able to slash the premium package prices by 50% as well as offer ad free services for education as well as charitable organizations.
Bicro Ltd. is the «Business Innovation Center of Croatia», a goverment founded 30 million Euro seed fund to support innovation and technology advancement. The idea of such a fund was inspired by similar Finnish and Israeli funds started in times of recession, and built such companies as Nokia. Today Finland gets 20 times the initial investment in taxes from such successful companies.
Croatia has, through Bicro, decided to give Shout’Em the chance it needs to develope the platform even more. In times of recession, Southeastern Europe has decided to invest heavily in IT and web innovation. Can Shout’Em be to the region what the finnish «tiger» startups were to the Baltics? Let’s hope so. 🙂