AT&T, Nokia Invest in Local Search Engine/Ad Network

Nearly lost in a whirlwind week of WiMAX technology headlines was news that AT&T Inc. (T) has made an unspecified strategic investment in Zvents, a local search engine and advertising network that uses event listings to promote local businesses.

Nokia’s investment arm and venture capital firms were part of the funding that netted the Phoenix firm $24 million, in the latest capital effort.

Zvents enables users to find, contribute, share and promote local businesses, entertainment, sports, restaurants, events, performances and sales and weekly specials.

Zvents currently provides this search service for the YPmobile iPhone application that was developed by YELLOWPAGES.COM, a subsidiary of AT&T. The application integrates event information with local search capabilities. YPmobile for the iPhone allows friends, families and co-workers to discover local businesses and events, tie them together into a plan and share them through an integrated mobile experience.

AT&T says its investment supports the ongoing development of Zvents' search platform and unique local advertising opportunity. Zvents' expertise also will continue to bring an important dimension to the industry-leading YELLOWPAGES.COM local search business.

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