Guildford-based Mobestar was formed in 2004 and between then and the beginning of 2008 it raised £5.4m to develop its mobile technology. Product development is carried out in Bristol. It offers hosted services over mobile phones that can generate revenues for businesses. Mobestar's products can be used on more than 9,000 different handsets and it can handle billing, different payment methods and messaging services. The individual products are broadly standardised but its main product is Mdate, a mobile dating product, and this is where the initial revenues will come from. Another product is Mspace, which is a mobile equivalent of MySpace. Mobestar prefers a model where it shares the revenues with its customer but some of the larger clients prefer a licence model.