MobileBits Holdings, a provider of end-to-end content delivery solutions, has raised $5,000,000 from a select group of investors. MobileBits received proceeds of $5 million resulting from the sale of 10,000,000 shares of the Company’s common stock at a price of 50 cents per share.
The company says it will use the net proceeds for general corporate purposes, including advertising, marketing, product development, and acquisitions.