Fortumo, the Estonian wonder startup continues its amazing growth. They have now opened up business in their 48th country, Thailand according to a recent blog post. Thailand is one of the large markets in South-East Asia with its 66 million mobile users. Interestingly enough, only 2% of the population is subscribed to broadband connections and while 12 million of the 66 million mobile users are also mobile internet users. Going head on with a growing, but still very immature market cna be flourishing for Fortumo. As internet usage grows, so does the requirement to monetise it - this is where Fortumo comes in. Furthermore, the huge mobile market presents numerous opportunities for Fortumo and its clients.
What drives this mobile internet usage then? According to Fortumo, it's the increased availability of smartphones and the extraordinarily popular social networks like Facebook, MySpace and Twitter. According to some studies, Thailand is the 21st country in terms of size of nationalities using Facebook. Also, there are approximately 990 000 Twitter users in the country. Facebook usage from September 2009 to September 2010 grew by over 300%. Mobile internet is there to stay.
Back in September we wrote that Fortumo was opening shop in ten new countries. Fortumo enables SMS payments as well as in-app purchases on the Android platform. Founded in 2007, it serves more than 46 000 registered service providers, who have created more than 140 000 different mobile payment solutions. These solutions are available to a phenomenal 1.5 billion people.
I think we'll be hearing from Fortumo in the future as well.