One of the most successful start ups in recent times, Ontela, has agreed to band together with the Net's largest photograph storage service, PhotoBucket. The new company will be known as PhotoBucket Establishment and may be run by Ontela's chief money officer, Tom Munro.
He'll be president of the new entity, while Jon Miller, head honcho and Manager of Digital Media for Reports Company, will be director.
Reports Concern, which purchased PhotoBucket in 2007, will still hold a major percentage in the new firm, while Ontela's financiers will have to make a new capital dedication to guarantee an equal percentage in the new enterprise. This development comes as a keenly anticipated call from Ontela to move forward with a larger company. Since its launch, interest has been rising in the startup, to a point where it was considered the freshest prospect on the market. Ontela's services are regarded as not only top-of-the-line, but also revolutionary and leading edge. Patrons taking footage with their mobiles have the facility to instantly store them immediately on their PC or on diverse online storage services like PhotoBucket, Flickr, Blogger, Snapfish or Shutterfly. Currently, the service saw giant adoption across wireless carriers including T-Mobile, Verizon, Alltel or United Wireless.
This detail right here has spurred massive interest across the business world and many meeting rooms. Capitalizing on its over-night success, Ontela's management didn't only avoid a take-over, but also satisfied the leading image hosting service in the world to combine on equal terms and positions. PhotoBucket and Ontela combine operations Enlarge picture Tom Munro, Ontela's chief monetary officer, declared, we are happy to bring together these 2 dynamic firms that are at the pioneering edge of the explosion of content sharing in the digital photography space. We suspect Photobucket's huge shopper audience and content leadership and the accomplished team of professionals who have driven the business enhances and brings great guarantee to Ontela's technology leadership in mobile photograph sharing applications.