The popular review-site Qype just won Vodafone Ventures as a new shareholder. Vodafone Ventures is investing 3.5 million € in the Hamburg-based company. Another 3 million € are comming from the existing investors Partech International, Wellington Partners and Advent Venture Partners. The collected capital will be invested primarily in the development of mobile applications.
“Qype has emerged as the leading local reviews site on the web in Europe. In the recent past we have seen Qype rapidly scale its presence both on the mobile and beyond Europe. We are delighted to back a key player in the location-based services and user reviews arena and we are looking forward to helping Qype accelerate its mobile business further and ultimately adding value to our customer”, said Peter Barry, Head of the Venture Group “Vodafone Ventures”. Qype was founded in 2005 and offers reviews of 600,000 businesses in Europe and has 17 million unique visitors per month. About 1 million Qype users are using the service through mobile devices every month.