KADOINK ANNOUNCES $7M SERIES A FUNDING WITH SUTTER HILL VENTURES

\r\t\tSAN FRANCISCO, CA - January 15th, 2008 – Kadoink,\r\t\t(www.kadoink.com) ), a web telephony service for social media \r\t\tthat enables enhanced group communication and mass distribution of SMS, live and recorded voice\r\t\tmessaging and audio file streams over the voice channel, has closed $7 million in financing\r\t\twith Sutter Hill Ventures.\r\t

\r\t\tThe funding comes after a successful unveiling of Kadoink's powerful communications platform that\r\t\tbridges the mobile phone and the web, allowing consumers to connect, share and publish content with\r\t\tfriends and online communities through their phones. Kadoink has initially deployed its technology\r\t\twith such brands and properties as Bebo, Adidas, Zomba Records, a soon to be announced sports broadcaster\r\t\tand artists such as Death Cab for Cutie, Jordin Sparks and Third Eye Blind.\r\t

\r\t\tAs part of the agreement Sutter Hill Ventures Managing Director, Andy Sheehan an industry\r\t\tveteran in the social networking and media space, will be joining the Kadoink board of directors.\r\t

\r\t\t\"With our expertise in identifying emerging and entrepreneurial technology companies, we believe\r\t\tKadoink and its patented family of technologies will be a highly successful addition to our\r\t\tgrowing portfolio,\" said Andy Sheehan, managing director at Sutter Hill Ventures. \"Kadoink possesses\r\t\ta powerful set of web-based telephony functionalities that we believe consumers and developers will\r\t\tsoon adopt and embrace.\"\r\t

\r\t\tSecuring our funding with Sutter Hill Ventures allows us to forge innovative deals with key partners\r\t\tin a diverse set of verticals such as social networks, virtual worlds, music artists and many more\r\t\ton the near horizon. We're thrilled to have Andy join our board and lend his tremendous insights and\r\t\texpertise to Kadoink's growth strategy,\" said Scott Cahill, CEO of Kadoink.\r\t

\r\t\tThe new funding from Sutter Hill Ventures will continue to further extend the Kadoink footprint in\r\t\tthe social media arena while developing new areas of the business, leveraging Sutter Hill Ventures\r\t\tvast system of industry networks and years of strategic category experience.\r\t

About Kadoink

\r\tKadoink is a powerful web-telephony platform that seamlessly integrates SMS,\r\tIM and voice into a single hosted system compatible with any carrier or handset. \r\tThrough its patented technology, Kadoink provides a suite of communication widgets and\r\tservices such as phonecasting, audioblogging, microblogging, instant and large scale group\r\tcommunication (calling & texting) as well as mobile advertising (SMS and audio interstitials).\r\tKadoink un-tethers users from their computers and instantly expands their current mobile phone\r\tcapabilities, giving them a fun, always-present, easy-to-use tool to anonymously connect with an\r\texpansive network of family, friends and online communities without ever having to disclose their\r\tactual phone numbers. The company is based in San Francisco, California and was formed in September 2006.\r\tFor more information and to sign up for Kadoink please visit\r\twww.kadoink.com.\r

Kadoink Contacts:

Bret Ingraham
\rmPRm Public Relations for Kadoink
\r323.933.3399
\rbingraham@mprm.com