This comes after a big round of funding as well, where it raised $185 million, out of which $135 million was used to finance the acquisition. The round was led by Advanced Equities, Carl Icahn and New Enterprise Associates. Steve Elfman, former EVP of InfoSpace’s mobile services business unit, and now the president and COO of Motricity, is based in Bellevue as well.
The combination of the two companies has resulted in significant duplication, the story says, and rumors have been going on for weeks internally, though no action has been taken yet. "
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