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Mozilla Steps Into Venture Funding

Throughout its history, Mozilla has supported innovation on the web by investing in people and its own development. Today Mozilla is moving to the next stage in its evolution, formally investing in a mobile startup that could help to enable its nascent FirefoxOS platform.

Mozilla is participating in a $25 million series C funding round for Everything.me, which is an HTML5-focused mobile startup. Mozilla is joining the venture team of Telefonica Digital as well as SingTel Innov8 in the funding round.

"This is Mozilla's first direct investment in another company," Harvey Anderson, general counsel of Mozilla, told Datamation.

Mozilla started out as a non-profit effort to develop web browser technology. While Mozilla is not profit motivated historically, the open source organization has been growing its financial revenues in recent years. In 2011, Mozilla generated $163.5 million in revenue, up from $123.2 in 2010.

The bulk of Mozilla's revenues to date have come from the group's partnership with Google. Moving forward, Mozilla is rapidly ramping up its mobile efforts, which is where Everything.me will fit in.

Read the full story at Datamation:
Mozilla Invests in Mobile Startup

Sean Michael Kerner is a senior editor at InternetNews.com, the news service of the IT Business Edge Network, the network for technology professionals Follow him on Twitter @TechJournalist.