Abstract

Venture financing (VF) is a critical catalyst for the growth and evolution of the converging mobile ecosystem. VF has helped to create and nurture many innovative companies that have fundamentally transformed the ecosystem. The objective of this study is to understand the structure of mobile VF using an ecosystem lens. Based on a triangulated dataset of 46,447 funding rounds for 21,299 companies by 8,049 informal and institutional funding entities from 2007-2012, and using a modified multidimensional scaling approach, we explore the structural properties and strategies of VF in the mobile ecosystem. Our analysis is complemented by large-scale network visualizations. The study contributes to our theoretic understanding of VF networks, differentiated by early- and late-stage investments, in converging business ecosystems. The paper concludes with future research opportunities.

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