It’s not everyday that the Associated Press picks up investment property on the news front. Which makes this latest investment all that much more interesting. The Associated Press has gone in with other investment firms to pump $3 million in to the mobile news startup Verve Wireless.
Verve specializes in getting traditional newspapers online and mobilized, and it’s clear, following the AP’s Mobile News Network iPhone application, that the Associated Press is all about news in the mobile space. The AP uses Verve’s technology to push news articles to their Mobile News Network.
There’s no doubt that news is increasingly moving from traditional print media to the online and mobile arenas, and this latest move from the AP should help solidify their position in the news business. Investing millions in mobilized news is print media’s last bastion of hope. The rest of us will just have to make do with our blog investments….
[Via: NYT]