Mtone Wireless

About Mtone Wireless

Mtone Wireless, originally incorporated as GWcom Inc. in 1994, positioned itself as a foundational player in the nascent Chinese wireless data market. The company was established in Silicon Valley by co-founders Dr. Raymond Chin and Victor Wang. Dr. Chin, who served as Chairman, had prior success in the wireless technology sphere, having led Proxim Inc. to pioneer the first commercial Wireless LANs in 1992. Victor Wang, who held the roles of president and CEO, brought a deep technical background to the venture, holding a Ph.D. in electrical engineering from Stanford University. His focus on mobile data networks was instrumental in the company's direction.

The firm's operations were primarily centered on the rapidly expanding Chinese mobile market. A significant milestone was achieved in 1998 when Mtone, in partnership with China Telecom, launched the first commercial wireless value-added services in the country. This initiative included pioneering mobile internet information services and, notably, the world's first wireless stock trading system. The business model focused on providing these wireless interactive entertainment and information services to mobile users. The service portfolio catered to the consumer market, with a focus on entertainment categories like music, sports, and games, delivered through technologies such as SMS, WAP, and JAVA. Revenue was generated through subscriptions for text-messaging services and providing games for handheld mobile devices, capitalizing on the explosion of mobile phone adoption in China.

Mtone Wireless established a significant operational footprint with a large office in Beijing and a total staff of around 400 people in China. The company successfully raised a total of $84.3M in funding over its lifetime. Despite its early successes and pioneering role in the mobile value-added services market, PitchBook data indicates the company is now out of business. This is further substantiated by co-founder Victor Wang having since founded and moved on to become the managing partner of AimTop Ventures, a venture capital firm.