Today, Xtreme Labs announced that Chamath Palihapitiya, former VP of Growth, Mobile, and International for Facebook (News - Alert) and founder of The Social+Capital Partnership, has personally invested and became a significant shareholder in the company.  

As the company moves through its next phase of growth, Palihapitiya, who has extensive experience and knowledge of both start-ups and the tech industry in addition to his work in growth and mobile with Facebook, will join the Board and serve as an advisor to the management team.


Image via Shutterstock

"Since our inception, Xtreme Labs has been a leader in mobile innovation, and with this announcement, we are now better equipped to move forward with greater velocity to become one of the world''s largest, most successful mobile companies," said Amar Varma, CEO of Xtreme Labs.

Start-ups like Playdom (acquired by Disney (News - Alert)) and Yammer (acquired by Microsoft), both which have been incredibly successful, have benefited from Palihapitiya’s impressive track record of funding and mentoring.

Palihapitiya feels that in Silicon Valley, Xtreme Labs is one of the best-kept mobile secrets, having built more than 300 custom apps which have been downloaded hundreds of millions of times. He believes that the success behind many of the Valley's most successful mobile experiences lies in Xtreme Labs’ combined team of over 150 talented engineers and mobile experts.

In keeping true to the company’s core mantra, Xtreme Labs will continue to collaborate with industry leading brands including companies like Groupon, Shutterstock, Rypple (now Salesforce), CIBC and IAC.  In addition, there will be new initiatives that focus more on enterprise based solutions as well as expansion into other verticals including retail, financial services, education and healthcare.

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