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Monday, May 16, 2022

Wireless Firm Sold to Interactive Developer

Wireless Firm Sold to Interactive Developer


Staff Reporter

GoldPocket Interactive, a recent L.A. arrival developing interactive television programming, has acquired Santa Monica-based wireless media company Moeo.

Terms of the deal were not announced, but Moeo will be split into two as part of the acquisition, with about half of the staff joining GoldPocket at its headquarters in Marina del Rey and the remainder starting a new company in Massachusetts.

GoldPocket, which has about 60 employees, develops programming that allows users to compete with one another by responding in real time to questions posed on television programs. Its customers include the Game Show Network, Comedy Central, Fox Television and Sony Television.

Through acquisition of Moeo, GoldPocket’s network, which was once only available through set-top boxes or personal computers, will be extended to the estimated 60 million cellular phones in the United States.

“Most of the wireless stuff that’s taking place today is people sending messages to each other. It’s not that compelling. People would rather call one another,” said Scott Newnam, president and chief executive of GoldPocket. “But as soon as you plug it into our network it puts you in this huge virtual game with everyone in the country.”

GoldPocket charges networks a set-up fee plus a per-customer charge based on response to license its interactive technology.

Founded in Massachusetts in 1999, GoldPocket relocated to Los Angeles last November to be closer to its Hollywood client base, Newnam said. The company has raised $60 million from a variety of investors, including AOL Time Warner and Waterview Partners.

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