Backchannelmedia

Backchannelmedia

ingle Networks, operator of the 1-800-FREE411 directory assistance service, announced today it has raised $26 million of Series B financing, led by Series A investor Liberty Associated Partners. Also participating in the round are Series A investors First Round Capital and IDG Ventures Boston, as well as new investor Comcast Interactive Capital.

1-800-FREE411 (800-373-3411) is the nation's leading advertiser-supported directory assistance service. Instead of paying between $1 and $2 for each call, consumers may hear a short marketing offer and are then given the opportunity to either respond or to continue with their lookup request. The service otherwise offers the same lookup services as paid directory assistance services.

Since launching the service in September 2005, Jingle is currently processing over seven million calls per month from over three million unique consumers. The service is already showing strong signs of expanding the overall 411 category; users are averaging four times as many directory assistance calls through the free service as users of traditional paid services. In a recent survey, 80% of consumers said they preferred an advertiser-supported free service versus a paid service.

"This financing from top media and telecommunications entities is a testament to the enormous size of our business opportunity and the great momentum and leadership we have established out of the gate," said Jingle president and CEO George Garrick. "We believe this is nothing less than a major new consumer advertising medium, appropriate for both brand and direct-response advertising. We are building a new kind of media channel which has very similar characteristics in terms of reach, targeting and measurability to paid search and radio, but which provides a voluntary and attentive consumer who has chosen this channel over a paid service."

"Jingle has shown incredible growth during its initial launch period, and has proven that consumers are eager for a free directory assistance that provides information like yellow pages and the Internet," said David Berkman, managing partner of Liberty Associated Partners. "With 800-FREE411, advertisers have a tremendous new opportunity to reach highly targeted consumers with promotional messages that drive action in an unprecedented way."

"Jingle is the leader in an exciting new interactive media marketplace that through precise targeting benefits both consumers and advertisers, such as large brand advertisers, direct marketers and local businesses," said Louis Toth, managing director of Comcast Interactive Capital. "Jingle impressed us by its accomplished management team of Internet and advertising pioneers and its leadership position in this very promising market."

About Jingle Networks

Jingle Networks is creating an exciting new media network through 1-800-FREE411, the nation's leading advertiser-supported directory assistance service, which is revolutionizing the directory assistance industry by offering consumers a free alternative to the high cost 411 services provided by landline carriers and mobile phone companies. 1-800-FREE411 is supported by national and local advertisers who use FREE411 as both a branding and direct-response media channel to target messages to callers within the context of a normal-length 411 call. In addition, FREE411.COM on the Internet provides consumers with an easy to use Web-based resource for telephone number lookups. For more information, visit: http://www.free411.com.

Contacts LaunchSquad Jason Mandell or Melissa Biles, 415-625-8555 free411@launchsquad.com