Another No Brainer
TechCrunch today has a profile on Jingle Networks, which just raised another $60M in funding from Goldman Sachs. Jingle is another great data point for the mantra that, as an entrepreneur, you don't need to reinvent the wheel to tap into a monster market.
The company provides a free 411 directory service in exchange for the caller listening to a 15 second advertisement. Apparently consumers make more than 6 billion directory assistance calls per year, and Jingle claims to have already captured 3% of the market. Even if you think web apps on mobile phones will eventually replace standard land line and wireless services like directory assistance, it will take a long time. Plus, Jingle's service is sticky - once you've got 1-800-373-3411 on your mobile speed dial, will you ever go back to paying $1.25 for 411 service from your carrier?
I'm not an investor in Jingle and don't have a stake in its outcome (nor does VeriSign), but I do think it's a clever concept that continues to push the ad-driven revenue model, and it's another reason I believe consumer-driven and advertising models in the mobile and web spaces are just getting started.
