Smart money in dumb phones

Apps on a no-so-smartphone? No problem for one Australian start-up. Who'd have thought there would be so much smart money in dumb phones? A coterie of heavyweight investors including billionaire Google executive chairman Eric Schmidt and the co-founder of Seek.com.au, Paul Bassat, have just invested $2 million in biNu, an Australian mobile app platform targeting the four or five billion people who don't have smartphones.

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