AP has participated in a $3 million round of financing in Verve, a mobile news services company that’s powering AP’s recently announced Mobile News Network. “Verve Wireless’s mission is to save the local paper by making it mobile,” writes Claire Cain Miller in the New York Times. As Rafat points out on PaidContent, this is a rare strategic investment for the Associated Press.
Correction: I updated the post to reflect that AP participated in a $3 million round of financing instead of investing $3 million.
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