Do You Limbo?

Justin Hibbard

Here's a startup funding from December that seems to have escaped notice. Limbo, Inc. in San Mateo, Calif. raised $1.1 million last month from VC firms Azure Venture Partners and Draper Fisher Jurvetson. The company offers mobile services for consumers, the first of which is a hybrid of games and auctions for mobile phones. In these auctions/games, the lowest unique bid wins the auctioned item, and everyone else gets "loot" that can be redeemed for merchandise. In other words, nobody loses (hmm, and how does Limbo make money?). CEO Jonathan Linner was formerly CEO at New York-based mobile marketing company Enpocket.

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