A once-failing Vancouver company that managed to turn itself around into an early-stage venture firm is undergoing another transformation and rebranding under the moniker of one of its social media acquisitions.
LX Ventures (TSX-V:LXV) announced June 23 it’s changing its corporate name to Mobio Technologies.
Whistler-based angel investor Mike Edwards bought LX Ventures in October 2012 when it was a failing company. He went on to turn it into an early-stage venture capital firm that acquired Vancouver-based Mobio Technologies in April 2013.
The social media startup was responsible for Mobio INsider, which connected fans with their idols in the entertainment world.
"Changing the company's name to Mobio Technologies is a practical step given that the Mobio social media platform is our primary focus" Edwards said a statement.
Mobio is planning on introducing new features such as video capabilities and growing its revenue sharing platform.
The company plans to be quoted under the stock symbol MBO once the name is approved on the TSX-V exchange.
Edwards, the founder of Vancouver-based technology incubator Launch Academy, has invested in more than a dozen startups through LX Ventures. Among them is crowd-funding platform Weeve.it, which was founded by Vancouver park board commissioner Trevor Loke.
