Sequoia leads $10m investment in MoboTap

MoboTap is the developer of Dolphin Browser, a product that enables Google Android mobile users to create web pages through faster and simpler gestures than traditional handset browsers. MoboTap claims to have more than 8 million users after launching 15 months ago. It plans on using the venture funding to bolster product development for Dolphin and expand into new markets.

Michael Moritz, a partner at Sequoia Capital, said in a statement that the majority of Dolphin's users are in the US, but Sequoia will work with MoboTap in the US and China "to ensure even more people are enjoying the intuitive Dolphin mobile browser."

"According to IDC, for the first time more smartphones have been shipped than PCs, growing 74.4% to 302.6 million devices in 2010," said Kui Zhou, also a partner at Sequoia. "Smartphones have changed the way people access the internet and Dolphin is transforming the way people browse on their smartphone and tablet devices."

Sequoia has been an active investor in China's digital space. In May, the firm, with DCM, jointly invested $50 million in Guangzhou-based online retailer VIPshop, coming one month after it also invested in e-retailer and wholesaler Milanoo.com. That month, Sequoia led a $50 million tranche in Tuniu.com, a China-based digital travel service.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Venture
• Technology
• Sequoia Capital
• Matrix Partners