Powwownow Announces Today the Acquisition of Yuuguu
15 July 2010,
Powwownow announces today that it has acquired a majority share in Liverpool based company Yuuguu, uniting two of the UK?s best communication brands.
Founded in 2007, by Entrepreneur Anish Kapoor, Yuuguu is the UK's leading and one of the worlds fastest growing Free Web Conference
service. With this acquisition, Powwownow, Europe's fast growing conference calling company, has further strengthened its proposition as the voice and web conferencing solution for SMBs and Corporates in the UK, Europe and beyond.
"This is a historic day for Powwownow, Yuuguu and the businesses we both serve with our free audio conferencing
," comments Andy Pearce CEO of Powwownow. 'We want every business to be able to enjoy the ability to collaborate for free no matter what the size of the business. We are confident that by working together with the Yuuguu team we can further enhance our offering and create an offering that far surpasses that of our very expensive competitors.'
"Today marks the beginning of an exciting new era," said Anish Kapoor of Yuuguu. "We want to work with Powwownow to create the best web collaboration software on the market. As of today our clients will benefit from Powwownow's free conference calls
, free recording plus a selection of other free benefits. Powwownow also have a dedicated UK based customer service team that will now service our clients too."
Powwownow have paid an undisclosed sum for a 70% share in Yuuguu.About Powwownow Powwownow
was founded in 2004, offering customers low-cost conference calling facilities with the ethos of no booking, no billing, no fuss. (The customer does not need to book a conference room and never receives a bill from Powwownow, just the cost of a 0844 call added to their bill). Turnover for 2010 is expected to reach £8m. The company operates in 15 countries including the US and major European markets. Powwownow employs 41 people and is based in Richmond, London.About Yuuguu
Yuuguu, named after the Japanese word for fusion, was founded by entrepreneurs Anish Kapoor and Philip Hemsted in 2007 after they became frustrated by working together remotely and not being able to see and share each other's computer screens in real time. The company is based in Liverpool and received funding from Rising Stars and Liverpool Seed Fund among others.