Mobile VoIP: RingCredible acquires Yeloworld, founded by Frenchman Philippe Joly
Mobile VoIP provider RingCredible has just acquired Yeloworld, a company co-founded by Frenchman Philippe Joly and based in Hong Kong. The amount of the acquisition was not disclosed.
RingCredible publishes a mobile application since 2012, which allows its users to make low-cost calls via 3G, 4G and Wi-Fi networks. The Dutch offers its application free of charge to its users who must then buy credits to spend the calls. These would be 90% cheaper than calls made through traditional mobile operators, and 70% cheaper than those from Skype or Rebtel, its competitors.
YeloWorld was launched in January 2013, and offers low-cost international calls, particularly to fixed numbers. The application would be used in 200 countries currently.
With one million users of the low-cost VoIP application recorded last January, RingCredible now has 2 million users after this takeover. RingCredible claims a strong proposition in the market for mobile VoIP applications, in particular on price, but also on low data consumption, and therefore battery. “Our strong market proposition, combined with a low customer acquisition cost, fueled our 250% growth last year,” said Hans Osnabrugge, CEO of RingCredible.
“As we have seen with WhatsApp, and other mobile VoIP service providers like Viber or Tango in recent months, the current market is ready for consolidation,” explains Philippe Joly, co-founder of Yeloworld.
The Dutch company RingCredible now intends to initiate a series A fundraising in the coming months to continue its development, particularly in Asia where YeloWorld is based.