# Zong

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zong

- Industry: Internet
- Headquarters: Menlo Park, US
- Website: www.zong.com
- Total disclosed funding: $28M
- Latest round: Series A (Apr 27, 2010)
- Investors on record: 3

## About

Zong is a mobile payments platform that enables consumers to make simple and secure purchases via their mobile devices, enhancing the digital payment experience for users worldwide.Founded in 2008 and headquartered in Menlo Park, US, Zong operates as a mobile payments solution that simplifies transactions using mobile devices. In 2011, the company was acquired by eBay Inc. for USD 240 mn, reflecting its innovative approach in the payment technology sector. The CEO of the company is Saqib Saeed, who has been instrumental in steering Zong through its acquisition and growth phases.Zong specializes in mobile payment solutions, allowing users to effortlessly complete transactions through their mobile devices. The platform focuses on enhancing user experience by facilitating quick and secure payments for various online services and products, catering to a global audience.Zong generates revenue through transaction fees associated with its mobile payment services, which provide users with seamless purchasing capabilities. The revenue is structured around the fees collected from merchants and service providers utilizing Zong's platform for mobile transactions.Following its acquisition in July 2011, Zong plans to leverage the resources of eBay Inc. to expand its reach into new markets, particularly focusing on enhancing its offerings across North America and Europe. The funding from the acquisition is intended to support the development of new payment technologies and integration into eBay's existing platforms, aimed at boosting user engagement and transaction volumes.

## Funding rounds

- Series A, Apr 27, 2010, $15M — Matrix Partners
- Series B, Feb 1, 2007, $7.5M — Advent Venture Partners
- Series A, Jul 1, 2005, $5M — Rising Tide

## Investors

- Rising Tide — Series A
- Advent Venture Partners (https://capitalatlas.ai/funds/advent-venture-partners) — Series B
- Matrix Partners (https://capitalatlas.ai/funds/matrix-partners) — Series A