Jaxtr Completes $10 Million Series B Financing

MENLO PARK, CALIF. - June 24, 2008 – Jaxtr™, the company that links your phone to the Web, today introduces the freedom for members to call anyone in the world on their mobile phone without the worry of a huge bill, the hassle of calling cards, or downloading software to their mobile phone. In addition to the ability to make free in-network calls, jaxtr members can now call anyone in the world from their mobile phone for substantially less than the rates charged by most calling cards. In addition, members can make calls with the convenience of direct-dial numbers, which eliminate the hassle of access and PIN numbers required by calling cards. Jaxtr is currently used by more than 10 million users in 220 countries.

"Making international calls to friends, family, and business colleagues on your mobile phone has never been cheaper or easier. With jaxtr, it's just like calling a friend down the street," said Konstantin Guericke, CEO of jaxtr. "You simply dial a local number on your mobile, press the green talk button, and your friend's phone rings overseas. You'll never have to hassle with the inconvenience of calling cards again."

$10 Million Series B: Jaxtr also announces the completion of $10 million in Series B financing, a round led by new investor Lehman Brothers Venture Partners. "Jaxtr's market potential is extraordinarily large as the company is able to acquire millions of customers per month without spending any money on marketing. And it succeeded in monetizing its offering within 16 months of launch through two revenue streams, first advertising and now premium services," said Ben Boyer, partner at Lehman Brothers.