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Qype raises EUR6.5m from investors including Vodafone Ventures

Qype, a user-generated local review site in Europe, has raised EUR3.5m from Vodafone Ventures and a further EUR3.0m from its existing three investors, Advent Venture Partners, Partech International and Wellington Partners.

Launched in March 2006, Qype’s communication platform is Europe’s largest site for user-generated reviews and recommendations of places, events and experiences.

Qype covers more than 158,000 European towns and cities and has 17 million unique visitors per month.

The additional funds will be used to develop Qype’s mobile business. Its mobile application Qype Mobile was first launched for the iPhone in January 2009, followed by versions for Android and most recently Blackberry.
A co-branded version of the Qype product will be pre-loaded on supported Vodafone devices, including Blackberry and Android. It covers Vodafone’s core European markets including the UK, Germany, Italy, Spain, Portugal, Netherlands and Ireland.
Ian Brotherston, chief executive of Qype, says: “Qype offers reviews of 600,000 businesses in Europe and has 17 million unique visitors per month, with one million Qype users on mobile devices. We want to encourage our customers, whether users or businesses, to engage with the site on a regular basis and keep it growing. The future is in mobile, and we are dedicated to continuously improving the mobile experience for our customers – building on and offering new features to users.”
Peter Barry, head of venture group, Vodafone Ventures, says: “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.”

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