28 May 2007

Skype co-founders invest in Asian 3D social networking company

HONG KONG May 28, 2007 – Ambient Sound Investments (ASI), established by the four co-founding engineers of internet telephony software company Skype, will acquire a stake as part of a Series A funding round in 3D social networking company Frenzoo, to bring to market an exciting new online experience across the region. Frenzoo enables teenagers and young adults to connect with their friends and become budding fashionistas. Frenzoo users can express themselves by personalizing their own virtual 3D characters, and play mix-and-match with a variety of branded clothes, footwear, accessories, furniture and lifestyle items.

With an aim to be the leading 3D social networking platform in Asia Pacific, Frenzoo is dedicated to the region’s high-growth, lucrative and yet underserved youth market. Frenzoo offers a unique opportunity for brands and interactive agencies to engage deeply with a fashion-conscious online community, to help increase brand loyalty and drive incremental sales.

Headquartered in Hong Kong and founded by executives from Interactive Advertising, 3D Gaming and Internet industries in Asia, Frenzoo offers advertisers and marketers a platform that moves beyond traditional advertising models used in today’s social networking websites.

“Traditional web advertising is a push model focused on browser. In contrast, a pull model, with 3D branded products which are a natural part of the user experience, can greatly increase user engagement and the effectiveness of marketing campaigns” said Eda Chow, Director – Marketing & Business Development of Frenzoo.

The Frenzoo experience utilizes the company’s RealFashion 3D Engine™ that simulates users’ character, clothing and living environments in true 3D, leveraging recent advances in graphics hardware. The Frenzoo application is a downloadable program offering native social network browsing and instant messaging, allowing users to create, chat and cheer without limitations of a traditional web based approach.

"We are attracted to Frenzoo’s unique technology and business model” said Toivo Annus, Managing Partner at ASI. “Integrating 3D and social networking opens up a world of opportunities for both users and advertisers. Asia is a dynamic and growing market, and we look forward to helping Frenzoo bring this service to life."

Frenzoo is the latest addition to the growing technology portfolio of ASI which constantly looks for investment opportunities in new technologies and services.

Frenzoo is currently in private beta, and its public service will launch in the second half of 2007.

Frenzoo Limited

Frenzoo is an exciting Internet company developing a new wave of online 3D social networking for the Asian youth market. Based in Hong Kong, the team is led by executives from the internet, online advertising and 3D gaming industries including companies such as DoubleClick Media and THQ, with a prior track record including the hit PC game Jurassic Park. The company is also supported by an advisory board comprised of leading venture capital firms, interactive marketing professionals and representatives from the fashion industry. Frenzoo’s vision is to become the leading online 3D fashion experience, and to offer the most engaging 3D social networking platform for brands and advertising agencies targeting the youth market. Since Spring 2006, Frenzoo has been chosen as an incubatee of the Cyberport Digital Entertainment Incubation-cum-Training Centre (“IncuTrain Centre”) of the HKSAR. http://www.frenzoo.com

Ambient Sound Investments

Ambient Sound Investments (ASI) was established by the four founding engineers of internet telephony software company Skype. ASI is a professional investment company with a specific interest in technology start-ups ranging from software and services to applications and devices. Since March 2006, the company has invested in several sectors including telematics, biotechnology, software, services and others. For more information, please visit: http://www.asi.ee/

Additional Information:
Eda Chow
Director - Marketing & Business Development, Frenzoo
Skype: edachow
+852 3166 3918

Toivo Annus
Managing Partner, Ambient Sound Investments
Skype: toivo